Silver play Investigator Resources taps investors
ASX-listed Investigator Resources has capitalised on strong demand for silver stocks, raising $5.4 million in an institutional placement through PAC Partners on Friday.
ASX-listed Investigator Resources has capitalised on strong demand for silver stocks, raising $5.4 million in an institutional placement through PAC Partners on Friday.
Investigator Resources, which discovered a silver resource in 2011, was seeking the cash injection to bring its Paris deposit into production as quickly as possible.
PAC sold new shares at 4.7¢ each, which was a 25 per cent discount to the last close. The broker closed the books early on Friday.
Investigator Resources is expected to confirm the raising and resume trading on Tuesday.
The deal was marketed as one of the few ways to play silver on the ASX.
The price of silver is up 30 per cent this year.