New Century raises A$53m for zinc mine restart

ASX-listed zinc developer New Century Resources will raise A$52.9-million through a share placement to progress the restart of its Century zinc mine, in Queensland. The company will place some 44-million new shares to institutional and sophisticated investors, priced at A$1.20 each, to raise the capital. The placement represents a 10.4% discount to the company’s last closing price, and a 15.7% discount to the five-day volume-weighted average price of New Century shares.