Company: Wyloo

Wyloo Metals increases its stake in Mincor Resources

Wyloo Metals has increased its stake in Mincor Resources (“Mincor”) via on-market purchases during July and August 2020 to become a 15 per cent shareholder in the company.

Mincor is an ASX-listed company focused on re-establishing sustainable, high-grade nickel production in the world-class Kambalda district of Western Australia. The company has a +300km2 land position in the Kambalda region, with a high quality nickel sulphide resource and reserve inventory and development-ready assets that are well placed to capitalise on the strong long-term nickel market outlook.

Wyloo Metals is a company of Tattarang. It manages a diverse portfolio of wholly-owned exploration projects and cornerstone investments in both public and private companies.

Wyloo Metals has continued its support of Mincor Resources

Wyloo Metals has subscribed for A$8.3 million out of the Mincor Resource’s (“Mincor”) A$50 million Institutional Placement in line with its current shareholding of 13.8 per cent.

Proceeds from the placement will be used to fund early pre-production costs while maintaining strong momentum with resource growth and exploration programs. Together with existing cash and expected debt, the placement and share purchase plan (“SPP”) is expected to fully fund the Kambalda Nickel Restart Project into production while providing a prudent contingency buffer.

Mincor’s Managing Director, David Southam, said: “We are very pleased with the outcome of what has been a highly successful capital raising for the company. The strong appetite from institutional investors reflects the quality and grade of the company’s nickel sulphide assets, their location in a Tier-1 Australian mining district, and the exciting potential to continue to grow our resource and reserve inventory with ongoing exploration. 

“The company will emerge from this with a substantially strengthened balance sheet, putting us in an enviable position as we finalise debt funding and move towards a potential final investment decision next quarter. We are also pleased to offer existing retail shareholders the opportunity to participate via the SPP, which opens early next month.”

Wyloo Metals is a company of Tattarang. It manages a diverse portfolio of wholly-owned exploration projects and cornerstone investments in both public and private companies.

Wyloo Metals increases its stake in Panoramic Resources to 6.3%

Wyloo Metals has increased its stake in Western Australian nickel miner Panoramic Resources (“Panoramic”) over the last two months to become a 6.3 per cent shareholder.

Established in 2001. Panoramic operates its wholly-owned Savannah operations in the East Kimberly region of Western Australia. Savannah hosts one of the largest known nickel sulphide orebodies in Australia.

Wyloo Metals is a company of Tattarang. It manages a diverse portfolio of wholly-owned exploration projects and cornerstone investments in both public and private companies.

Wyloo Metals invests a further C$ 14.5 million in Queens Road Capital

Wyloo Metals today announced it has increased its investment in Canadian-listed Queen’s Road Capital (“QRC”) by C$ 14.5 million.

QRC is a leading financier to the global resource sector. The Company acquires and holds securities for both long-term capital appreciation and short-term gains, with a focus on convertible debt funding solutions. QRC invests in resource projects located in safe jurisdictions that are already producing or in advanced development.  

In recognition of Wyloo Metal’s ongoing support, QRC has agreed to grant Wyloo Metals one seat on the Board of Directors for as long as it maintains a 10 per cent stake in the Company. The Board appointee will be announced at a later date.

Wyloo Metals is a company of Tattarang. It manages a diverse portfolio of wholly-owned exploration projects and cornerstone investments in both public and private companies.

Wyloo Metals invests $10.5 million in Queens Road Capital

Wyloo Metals today announced it has invested C$ 10.5 million in Canadian-listed Queen’s Road Capital (“QRC”).

QRC is a leading financier to the global resource sector. The Company acquires and holds securities for both long-term capital appreciation and short-term gains, with a focus on convertible debt funding solutions. QRC invests in resource projects located in safe jurisdictions that are already producing or in advanced development.  

Wyloo Metals is a company of Tattarang. It manages a diverse portfolio of wholly-owned exploration projects and cornerstone investments in both public and private companies.

Wyloo Metals backs Poseidon Nickel

Poseidon Nickel’s underground Silver Swan mine and open cut Black Swan mine will be back in production within 12 months with support from Wyloo Metals.

Wyloo Metals has continued its strong support of Poseidon Nickel (“Poseidon”) by investing A$4.3 million in the capital raising announced by the Company today and by fully sub-underwriting the A$68.8 million associated entitlement offer.  

Following the placement, Wyloo Metals has increased its holding in Poseidon to approximately 221.6 million shares or approximately 18 per cent of the expanded capital post placement.

Wyloo Metals is a company of Tattarang. It manages a diverse portfolio of wholly-owned exploration projects and cornerstone investments in both public and private companies.