First Quantum raises funds (December 16, 2002)

First Quantum Minerals (FM-T) will issue 5.5 million special warrants to raise nearly $18 million in an attempt to finance work at its assets in Zambia.

The warrants are fixed at $3.25 apiece and entitle the holder to exchange them for shares at no extra cost.

Proceeds are earmarked for the producing Bwana Mkubwa and advanced Kansanshi copper projects (T.N.M., Dec. 9/02).

The deal is being underwritten by a syndicate of brokerage firms led by RBC Capital Markets.