Navarre Minerals is pleased to announce that it has completed a placement to fund the transformational acquisition of the Mt. Carlton gold mine operation in Queensland, which also includes the Crush Creek operation.
Navarre will pay $13.2 million of the upfront consideration for the Transaction, issuing 176,565,396 ordinary shares to former owners Evolution Mining with the remainder issued in cash.
The Placement was oversubscribed with strong support received from both new and existing investors, immediately placing Navarre into gold producer status.
Navarre Managing Director Ian Holland said “this funding for the transformational Mt Carlton acquisition is a logical step to grow the Company, maximise shareholder return and scale our presence in the Australian mining industry.”
Read the full announcement here: Navarre completes placement for acquisition of Mt Carlton
Image Source: Evolution Mining