Vancouver – Junior mining market darling Aurelian Resources (ARU-V, AUREF-O) is looking to capitalize on its impressive share-price run with a planned $75-million bought deal financing.
The deal will be shared across a syndicate of underwriters, comprised of Sprott Securities, BMO Nesbitt Burns, Canaccord Adams, Dundee Securities, Westwind Partners, Blackmont Capital and Primary Capital, which will purchase 2 million common shares of Aurelian at $37.50 apiece. For their effort, the underwriters will get a 5% commission, amounting to $3.75 million, plus broker warrants (exercisable at $37.50 per share over 12 months) for 2.5% of the total amount of shares sold.
The company will earmark the funds for ongoing exploration work at its Condor project in southeastern Ecuador where it has been delivering significant gold values.
Aurelian shares closed down 40 at an even $39.00 apiece on November 6th trading, giving the company a $1.3-billion market capitalization based on its 33.4 million shares outstanding.
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