Saracen Minerals – Buy on Dip

Saracen Minerals has agreed to buy a 32% stake in the Super Pit gold mine in Kalgoorlie and is raising $796 million to fund the acquisition. New shares were being offered at $2.95 each.

The raising was split into a $369 million placement and $427 million rights issue.

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Author: Leon Hinde

Leon has been working in the financial services industry for 18 years in management and advisory roles. Leon has extensive experience in general advice and dealings involving securities and derivative financial products.

PS 146 Securities & Derivatives, ADA 1 & 2 accreditation, Responsible Manager Certificate. Leon is authorised to provide financial product advice and deal with respect to the following financial products:

· Deposit Products
· Securities
· Derivatives
· Interest in managed investment schemes; and
· Government debentures, bonds and stocks