Beaconsfield seeks $5 m

Beaconsfield Gold is attempting to raise $5 million in a Share Purchase Plan to accelerate exploration opportunities at its Beaconsfield Gold Mine, the miner said in a statement to the Australian Securities Exchange.

According to the statement, the miner is also hoping the plan will allow them to expand their Ararat and Stavely tenements in Western Victoria.

“Raising modest additional capital at this time will enable Beaconsfield Gold to bring forward realisation of the Ararat/Stavely opportunity,” the statement read.

Under the plan, shareholders will be able to purchase between $1,000 and $15,000 worth of shares at a price of 15 cents per share.

This price represents a 10.2% discount to the volume-weighted average price for Beaconsfield Gold shares on the ASX over the previous five trading days of 16.7 cents, the company said in the statement.

The plan will be capped at a maximum of $5 million and shares will be allocated on a ‘first-in, first-serve basis.’

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