Base metals miner New Century Resources is hoping to raise A$42.5-million through a fully underwritten share placement to institutional and sophisticated investors, to fund the continued refurbishment and ramp-up of its Century Zinc mine, in Queensland.
The share placement, which will be priced at 33c a share, will be conducted in two tranches, with the first consisting of 73.9-million new shares that will be placed under New Century’s existing capacity.