Gold Mountain sets out to share Mt Wipi spoils
Mining
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When Gold Mountain made the decision to undertake a capital raising of up to $5.1 million recently, it did so with its shareholder interests firmly in mind.
Gold Mountain (ASX:GMN) decided to go down the path of raising the funds by way of a 1-for-3 renounceable rights issue, priced at just 2c – a significant 49% discount on its 90-day volume weighted average price of 3.9c.
With every three new shares, shareholders will receive a free attaching option with an exercise price of 4c and a term of 18 months, with the ability to apply for additional shares and options.