OâKeeffeâs Burgundy Diamond in $45m capital raising
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Michael OâKeeffe-backed diamonds play Bergundy Diamond Mines has kicked off a $45 million capital raising via stockbrokers Aitken Murray Capital Partners and Euroz Hartleys.
The brokers were seeking bids for 63 million new shares to raise $15.2 million in a single tranche placement, which would occur at the same time as the group raised $30 million via the sale of convertible notes.
Michael OâKeeffe, the former boss of Riversdale Mining, is Bergundy Diamondâs biggest shareholder and a director. Â
Nic Walker
The placement was at 24¢ a share according to terms sent to investors on Thursday morning, which was a 7.7 per cent discount to the last close and a 7.9 per cent discount to the 30-day VWAP.