Past year: ▲ 25%(11.59 – 18.64 CAD)
Each one in plain English, with the numbers worked through for a shareholder.
20 May 2020capital raising announcement● NeutralMajor
Raised US$69 million by issuing 23,000,000 shares at US$3.00, including the full over-allotment, through a Scotiabank and BMO-led syndicate, to finish building Lindero and for working capital. The 2017 promise to build the mine without touching equity markets did not survive the pandemic, and the price was well below the US$5.00 conversion price on the debentures sold eight months earlier.
2 Oct 2019capital raising announcement● Neutral
Closed the US$40 million of 4.65% convertible debentures due 31 October 2024, convertible at US$5.00 a share, 200 shares per US$1,000. They cannot be called before October 2022 and then only subject to a share price test.
11 Sept 2019capital raising announcement● NeutralMajor
Agreed a bought deal of US$40 million of senior subordinated unsecured convertible debentures at 4.65%, maturing October 2024 and convertible at US$5.00 a share, with a US$6 million over-allotment option. Having said in 2017 it would build Lindero without touching equity markets, Fortuna was now raising money in a form that converts into shares if it works.
