New Century dumps Sprott debt for new equity

EMERGING zinc producer New Century Resources had ditched plans to utilize debt for developing its major tailings reprocessing venture at Century in Queensland and instead will use the funds from a fully underwritten A$40 million placement.

New Century dumps Sprott debt for new equity New Century dumps Sprott debt for new equity New Century dumps Sprott debt for new equity New Century dumps Sprott debt for new equity New Century dumps Sprott debt for new equity

The company claims the placement - to be priced at $1.15 per share and underwritten by Credit Suisse - provides it greater financial flexibility "given the restrictions on timing of the use of f...