A$57m Share Placement
Beadell is an emerging gold company with a portfolio containing development and advanced exploration assets in Western Australia, Victoria and northern Brazil.
On 1 April 2010, Beadell announced a capital raising of A$57 million comprising of a share placement of 380 million ordinary shares at an issue price of A$0.15. Azure placed A$5 million which was offered by Macquarie Capital Advisors Limited, the sole lead manager to the placement.
The net proceeds of the placement were used to complete the acquisition of 100% of the issued capital of New Gold Inc’s Brazilian subsidiary Mineração Pedra Branca do Amapári Ltda incorporating the Amapári Gold Project and the Iron Ore Royalty of 1% of gross iron ore revenue.