Deals this week: Novelis, Lowell Copper, Gold Resource Corporation

18 August 2016 (Last Updated August 18th, 2016 18:30)

Novelis has announced that it has raised $525m through a private placement of senior unsecured notes.

Novelis has announced that it has raised $525m through a private placement of senior unsecured notes.

Proceeds from the offering are intended to be used for the repayment of its 8.375% Senior Notes due 2017.

Lowell Copper has agreed to raise up to C$40m ($30.86m) through a non-brokered private placement of subscription receipts priced at C$2 ($1.54) each.

"Proceeds will be used to increase gold production from the Koricancha Mill, Peru."

Proceeds will be used to increase gold production from the Koricancha Mill, Peru, advance the Elk Gold project in British Columbia and the Warintza project in Ecuador, for potential acquisition opportunities, and for general corporate purposes.

Gold Resource Corporation has completed the acquisition of the Isabella Pearl high-grade gold project from a private party in exchange for $13.3m in cash and stock.

The open-pit heap leach project, located in Nevada, US, is estimated to hold combined proven and probable reserves of 2.7Mt grading 2.18g/t and containing 191,400oz of gold.