Precious Metals
Theta Gold Mines Secures Cash With New Share Placement
The article reports that Theta Gold Mines has secured new funding through a capital raise and a debt-for-equity swap. The company is raising approximately AU$9.3 million by issuing new shares to cornerstone investors, with the funds earmarked for its gold projects in South Africa and general working capital.
Concurrently, lenders holding AU$7.8 million in convertible debt have agreed to swap that debt for company shares. This move strengthens Theta Gold Mines' balance sheet by reducing its debt load. The market reacted positively to this news, with the company's shares rising nearly 6% following the announcement.
This financial restructuring reflects a broader trend where mining companies are taking advantage of favorable gold prices to improve their financial footing and fund future growth.
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