GWMG turns to London CB market for rare earths funding

An $80m convertible bond from a small Toronto-listed early stage rare earths company could open the door to the European equity-linked market for more of Canada’s many small-cap mining firms. The deal, for Great Western Minerals Group, incorporated features of the high yield, project finance and convertible bond markets and will allow the company to complete its capital expenditure plans to create one of only two integrated rare earths firms outside of China.

  • 19 Mar 2012
Great Western Minerals had attempted in October and November last year to raise the funding required to complete its mining, processing and separation facilities but amid sour markets and a tapped-out investor base only raised $17m from an equity-financing. It said in November that it would try to ...

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