Street Talk

Adriatic Metals raising $US244.5m, Sandfire selling stake

Anthony Macdonald, Yolanda Redrup and Kanika Sood

Oct 13, 2021 – 9.00am

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UK-based minerals explorer Adriatic Metals is raising $US244.5 million through a combination of debt and equity following the completion of a definitive feasibility study for its flagship Vares Silver Project.

The company, which is listed on the ASX as well as the London Stock Exchange and OTC Markets, is poised to sign the dotted line on a $US142.5 million in debt from Orion Resource Partners, comprising $US112 million in senior secured debt and $US22.5 million copper stream.

Anthony Macdonald is a Chanticleer columnist. He is a former Street Talk co-editor and has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies. Connect with Anthony on Twitter. Email Anthony at a.macdonald@afr.com

Yolanda Redrup is the co-editor of the AFR Rich List. She previously reported on technology, healthcare and Street Talk. Connect with Yolanda on Twitter. Email Yolanda at yolanda.redrup@afr.com

Kanika Sood is a journalist based in Sydney who writes for the Street Talk column. Email Kanika at kanika.sood@afr.com.au