Technology Metals Australia, which counts Resource Capital Fund as its 17.1 per cent shareholder, had two brokers building support for a $10 million capital raising over the weekend ahead of a launch on Monday.
Fund managers fielded calls from Bridge Street Capital Partners and Ashanti Capital, who were offering shares at 28¢ – or a 12.5 per cent discount to the last close. The vanadium explorer was down to $8.1 million cash at the end of March, and is plugging away at its West Australian project Murchison.
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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
