Media Release: Clayton Utz advising Euroz and Sprott on $43.2m placement by West African Resources

05 Dec 2018

Perth, 5 December 2018: Clayton Utz is acting for Euroz Securities Limited and Sprott Capital Partners, a division of Sprott Private Wealth LP, as joint lead managers, underwriters and bookrunners to West African Resources Limited's $43.2 million placement, which forms part of the company's $326 million debt and equity funding package announced to the ASX today.

Clayton Utz corporate partner Mark Paganin is leading the firm's team, with key support from special counsel Stephen Neale and lawyers Benjamin Depiazzi and Matt Johns. 

The placement will be undertaken as a single tranche of approximately 173 million shares at $0.25 per share and the shares will be issued to eligible sophisticated, professional and other institutional investors. Upon completion of the fundraising, West African Resources will be fully funded through to gold production at the company's Sanbrado Gold Project in Burkina Faso.

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