MPH recently acted for ASX-listed mineral sands explorer Strandline Resources Limited (ASX:STA) in connection with its fully underwritten $122 million equity capital raising.

The equity capital raising comprised an:

  1. institutional placement of shares to raise approximately $39 million; and
  2. accelerated pro-rata non-renounceable entitlement offer to raise approximately $83 million.

The equity capital raising forms a key component of Strandline’s recent fundraising initiatives, alongside a US$60 million senior secured bond issue and a loan facility from the Northern Australia Infrastructure Facility of up to $150 million. As a result of undertaking these fundraising initiatives, Strandline’s world-class Coburn Mineral Sands Project in Western Australia is now fully funded to production, with construction having recently ramped-up.

MPH was pleased to work alongside Strandline’s brokers, underwriters and management team to advance and complete the equity capital raising.

Mark Burchnall (Director) and Paul Cavanagh (Director) led the MPH team, with support from Laura Zollo.