One stock that plunged heavily – Beadell Resources Ltd

Raised funds: Beadell Resources Ltd (ASX: BDR) stock fell over 8.69% on February 21, 2017 after the company announced $51 million capital raising plan post emerging from a trading halt. BDR plans to raise $51 million at 29 cents per share, which is a 16% discount to the last close price. The group has received commitments to raise about $46 million through placement of 159 million fully paid ordinary shares. BDR also intends to offer eligible shareholders the opportunity to participate in a Share Purchase Plan (SPP) to raise up a further $5 million, at the same price as the Placement. The funds would be used to continue exploration and mill upgrades that are vital to maximize the returns for the shareholders from the Tucano mine.       

 

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