Raises SEK 266m to continue Viscaria re-opening work
Yesterday, Copperstone completed a directed share issue of SEK 266 (deal upsized from 225m), or 258m after transaction costs. The proceeds will be used for continued investments in re-opening the company's flagship asset, the Viscaria mine. The subscription price of SEK 1.07 per share reflects a 15% discount to yesterday's closing price and implies a dilution of 14%. Also, the company reiterates its total capex need for Viscaria of SEK 4.5-5.0bn, of which it expects a 60/40% split between debt and equity financing.
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