CAPITAL MARKETS

Breaker raises $20M

Company seeking further funds in SPP

Staff reporter

This article is 4 years old. Images might not display.

Shares will be issued at 24c per share, a 7.7% discount to the five-day volume-weighted average price.

The placement will be conducted in two tranches, with shareholder approval required for the second tranche.

Breaker major shareholder Electrum Strategic Opportunities Fund II will invest up to $2.28 million to maintain its 9.95% stake.

Paulson & Co will also join the register and will also hold 9.95%.

Breaker will conduct a share purchase plan at the same price to raise a further $3 million.

Canaccord Genuity is the lead manager to both issues.

Breaker executive chairman Tom Sanders said the support from US funds was a vote of confidence in the potential of the company's Lake Roe gold project.

"After 250,000m of reverse circulation and diamond drilling, the results point to a rare large greenfields gold camp in the early stages of delineation, only 100km from Kalgoorlie," he said.
 
"This is highly unusual, and we own 100% of the project with 600sq.km of tenure, a granted mining lease and 40km of strike potential."

Breaker reported a June 30 cash balance of $3.6 million.

The company's last capital raising was an $8 million placement at 35c per share to Electrum late last year.

Breaker shares were up 1.9% to 26.5c. The stock started the year at 29c.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining News Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining News Intelligence team.

MiningNews.net Research Report 2025

The MNN Research Report 2025 provides insights into critical mining themes in Australia/Oceania, including top projects, C-suite priorities, risk, ESG performance and investor sentiment.

editions

Mining Journal Intelligence: Investor Sentiment Report 2025

Exclusive insights into the plans, priorities and preferences of 130+ mining investors and top factors influencing investment decisions in 2025.

editions

Mining Journal Intelligence World Risk Report 2024 (feat. MineHutte ratings)

A detailed analysis of mining investment risks across 117 jurisdictions globally, assessed across six risk categories and an industrywide survey.

editions

Mining Company ESG Index: Benchmarking the Future of Sustainable Mining

The Mining Company ESG Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.