Hamilton Locke advises AuTECO Minerals Ltd (ASX: AUT) on its proposed A$65 million acquisition of the Green Bay Copper-Gold Project in Newfoundland, Canada and associated fully underwritten A$55 million placement and A$3 million share purchase plan.
The Green Bay Copper-Gold Project includes the Ming Mine and Nugget Pond processing facility previously operated by Rambler Metals and Mining Canada Limited, a subsidiary of previously AIM-listed Rambler Metals and Mining PLC. The acquisition will transform AuTECO into a significant copper company.
Commenting on the transaction, Hamilton Locke Partner, Shaun Hardcastle said: “We are delighted to have assisted the AuTECO team in this exceptional acquisition opportunity. It is very rare for a copper asset of this size and grade with a resource of this magnitude to be available and we look forward to assisting the AuTECO on this transformational project”.
The team at Hamilton Locke was led by Partner Shaun Hardcastle with support from Jeremy Newman, Daniel Owen and Jordon Rossetto. Canaccord Genuity (Australia) Limited acted as underwriter, lead manager and bookrunner to the placement. Argonaut Securities Pty Ltd, Euroz Hartleys Limited and Shaw and Partners Limited acted as co-managers to the placement.