+$100m equity financing de-risks Muga development (By Foster Stockbroking)
+$100m equity financing de-risks Muga development and strengthens bargaining position with potential 3rd parties
HFR raised $101m in equity via an institutional placement.
A total of 56m shares were placed at an issue price of $1.80/sh.
Cornerstone HFR shareholder EMR Capital provided strong leadership and support to the placement, subscribing for 29m shares. Following the placement, EMR have increased their position on the HFR register from 20% to 26% (fully diluted).