Gold developer Millennium Minerals is hoping to raise A$15-million through a fully-underwritten rights issue to fast-track the development of its Nullagine project, in Western Australia.
The 1-for-8.8 renounceable rights issue will be priced at 16.5c a share, with more than 90.6-million shares to be issued. The issue price represented a 17.5% discount to Millennium’s closing price on February 20.