Greatland Gold, capitalised at £350.7 million ($687 million) on the London Stock Exchange, has pulled the trigger on a much-anticipated $500 million equity raising to acquire gold behemoth Newmont’s non-core WA assets, Street Talk can reveal.
Sources said stockbroker Canaccord Genuity began contacting potential investors on Monday morning to build support among investors to fund the deal. It’s early days, and a term sheet is not yet in front of fund managers, sources said.
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Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com
Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review. Connect with Emma on Twitter. Email Emma at emma.rapaport@afr.com
