Anax’s Managing Director, Geoff Laing commented:
“We are very pleased to have had such strong support for this raise. Whim Creek is poised to become a first mover base metals producer in the Pilbara and with both copper and zinc having enjoyed significant price upswings this year, our robust project and processing hub platform continues to grow in value.”
Net proceeds of the placement will be principally used for:
The Placement will be undertaken utilising the Company’s existing placement capacity under Listing Rules 7.1 and 7.1A, through the issue of 100,190,427 and 69,460,285 Placement Shares respectively. The Placement issue price of $0.015 per share represents a 17% discount to the last traded price of $0.018. The Company expects the Placement Shares to be quoted on Thursday, 17 October 2024. The Placement Shares will rank equally with the existing fully paid ordinary shares on issue.
Placement participants will also be entitled to one (1) free attaching option (exercisable at $0.025 each and expiring 3 years from issue) for every one (1) Placement Share subscribed for (“Attaching Options”).
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