THE Avebury mine’s intending buyer has appointed a firm to manage its financing program.
It aims to have financing complete by the end of 2014.
A truck leaving the Avebury mine tunnel at Zeehan.
The West Coast will gain about 200 jobs if the nickel mine, near Zeehan, re- starts.
Avebury Nickel Mines Limited plans to buy the mine from Rosebery Mine operator MMG, which has it on care and maintenance.
ANML yesterday said it had appointed GMP Securities as lead manager for its financing process.The purchase will be complete when ANML gives MMG a closing payment of $33.25million.
“GMP has an excellent reputation for leading successful capital raising programs, both in Australia and globally, with a particular focus on the mining sector,” ANML CEO Chris Daws said.
GMP and ANML will consider a range of equity and debt financing options to conclude the mine purchase and provide working capital.
ANML may float.
Avebury was opened in 2008, but closed in 2009 due to a nickel price slump.
Nickel prices have strengthened in recent times and ANML is bullish about the price outlook.
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