Shaw and Partners is pleased to be appointed as Joint Lead Manager to the $50.0 million capital raising by Strandline Resources Limited (ASX.STA).

This raising will allow Strandline to accelerate growth through expansion of the Coburn Project and potentially earlier start of Tanzanian projects Fungoni and Tajiri:

– Coburn capacity upgrade scoping and feasibility study (30-50% expansion)
– Fungoni FEED, financing FID and long lead procurement & early works construction
– Tajiri Feasibility Study, planning and project approvals
– These initiatives will enable Strandline to target $200m EBITDA run-rate by 2025
 
The Company will raise approximately $50.0 million by issuing approximately 116.3 million new ordinary fully paid shares by way of a single tranche institutional placement. 
 
The offer price of $0.43 per share represents:

• a 11.3% discount to last close of $0.485;
• a 10.8% discount to 5-day VWAP of $0.482;
• and a 3.6% discount to 10-day VWAP of $0.446.

Strandline Resources is an emerging producer of critical minerals (mineral sands) with a portfolio of projects in Western Australia and Tanzania. With construction of Strandline’s 100%-owned Coburn mineral sands project in WA now +65% (on-time and on-budget) and fully funded to production scheduled for later this year, Strandline is now accelerating its organic growth projects to further capitalise on strong ongoing demand for its mineral sands products.
 
The offer is available to Australian Sophisticated and Professional Investors only.