FUND RAISING
Alphamin Resources opts for secondary listing on JSE
Alphamin Resources, which is developing the Bisie tin mine in the Democratic Republic of the Congo, will take a secondary listing on the JSE on Friday after raising $56.1m through a private placement of shares, the company said on Friday. Alphamin executives include prominent South African mining and finance personalities Charles Needham, Bernard Swanepoel, Paul Baloyi and Boris Kamstra. Alphamin’s major shareholder, with 44.1%, is Tremont Master Holdings, part of international private equity investors Denham Capital. South African mining entrepreneur Rob Still advises Denham. Share Placement Much of Bisie’s equipment and steelwork is being sourced from SA. Alphamin is placing 223.2-million units in Canada and SA at C$0.32 and R3.40. Each unit consists of a share and half a warrant. Each whole warrant entitles the holder to acquire a share within 36 months at a price of C$0.40 or the rand equivalent. Tremont has pledged to take up its proportional 44.1% of the private-placement sha...
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