VANCOUVER – First Quantum Minerals is planning a $1.25-billion equity offering with which to advance or expand existing mines and to pay down debt. The shares will be taken up by a syndicate of underwriters led by RBC Capital Markets and Goldman Sachs Canada.
The company will issue approximately 76.9 million common shares at a price of $16.25 each. The underwriters have also been granted an over-allotment option to purchase an additional 11.5 million shares. If the over-allotment is fully exercised, the gross proceeds will be $1.44 billion.
First Quantum operates seven mines around the world: the Kansanshi copper-gold mine in Zambia, the Guelb Moghrein copper-gold mine in Mauritania, the Las Cruces copper mine in Spain, the Kevitsa nickel-copper-PGE and Pyhäsalmi copper-zinc mines in Finland, the Ravensthorpe nickel-cobalt mine in Australia, and the Çayeli copper-zinc mine in Turkey. It has two other mines in development: the Cobre Panama copper-gold-molybdenum project in Panama and the Trident copper-nickel project in Zambia.
For further information visit First-Quantum.com.
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