The West

Apex Minerals set to raise more cash
Apex Minerals set to raise more cash

Struggling gold miner Apex Minerals is set to tap investors yet again for an injection of funds.

The company called a trading halt on its shares this morning foreshadowing the raising, along with a planned "asset sale" and a restructuring of its gold upside participation notes.

"As part of the proposed arrangements, Apex shareholders will be able to benefit from full exposure to current high gold prices while also allowing the company to strengthen its balance sheet and continue its focus on further improving production at Wiluna and reducing operating costs," Apex said in a statement.

"Apex will advise the market immediately once these arrangements are confirmed."

The company has struggled to control operating costs at its flagship Wiluna mine in recent years, prompting a series of capital raising, the latest of which was a $5 million placement in August last year.

Apex shares last changed hands for 2.2 cents.

The West Australian

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