Copperstone Resources: Raises SEK 266m for Viscaria investments - ABG

SEK 266m directed share issue: ~15% disc., ~14% dilution
New institutional backing helps mitigate future financing risks
We estimate full run-rate EBITDA of SEK 1.4bn from Viscaria


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.

Länk till analysen i sin helhet: https://cr.abgsc.com/foretag/copperstone-resources/Equity-research/2023/6/copperstone-resources---raises-sek-266m-for-viscaria-investments/