CAPITAL MARKETS

Dateline seeks $14M in massive raising

US-FOCUSED gold tiddler Dateline Resources is preparing to flood the market with new scrip to raise A$14.5 million before costs, via a 10-for-one rights issue at just 0.2c per share to yesterday's 1c close, a massive discount, that is primarily aimed at settling debts to its major shareholders.

 Dateline needs cash to examine its Colorado gold project and settle debts.

Dateline needs cash to examine its Colorado gold project and settle debts.

  The company's shares plunged 50% to 0.5c this morning, a multi-year low, and the market capitalisation halved to just $3.6 million, a predictable result given a plan to issue up to 7.2 billion new...

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