Greatland Gold PLC (AIM:GGP, OTC:GRLGF) has closed its ASX bookbuild, securing buyers for some A$490.4 million worth of shares.
It was a combination of new (primary placing) and existing (secondary placing) shares.
In terms of the cash injection, Greatland received commitments for A$50 million, selling new shares priced at A$6.60 each. At the same time, a Newmont owned vehicle sold 66.72mln existing Greatland shares for a total of $440.4 million.
The offer was priced at the top end of the indicated range.
Greatland chief executive described the investor demand as "exceptional”.
“[It] is testament to the quality and opportunity of Greatland's Telfer mine and world-class Havieron brownfield development project, and the significant progress already made by our team in successfully integrating, operating and optimising these assets since we acquired full ownership in December,” managing director Shaun Day said in a statement.
“The Australian Offering was strongly supported by existing shareholders and will also introduce a range of new, high-quality domestic and international investors to the register.
“The ASX is a natural listing venue for Greatland and we look forward to debuting on the exchange as a leading new Australian gold-copper producer.”
Day added: “We look forward to now finalising the corporate reorganisation under Greatland Resources and commencement of trading on both the ASX and AIM.”