PROJECT FINANCE

Delay-hit Paringa raises $30M

PARINGA Resources, one of the many companies in the stable of deal-maker Ian Middlemas, is raising up to A$30.2 million to advance its dream of becoming a US coal producer.

 Construction at Poplar Grove.

Construction at Poplar Grove.

The company will raise up to $7 million via an institutional placement of 31.8 million shares at 22c, a discount of 25-34% on recent trading, plus a further $23.2 million in an accelerated 1-for-3 pro-rata...

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