Northern Star issues SPP

As we discussed in Northern Star: Smart or crazy on 28 Jan 14 (Speculative Buy - $0.88), the onetime tiny miner has launched a share purchase plan (SPP) to finance the purchase of three new mines from troubled giant Barrick.

If you were a shareholder on January 22, you can subscribe for a maximum of $15,000 worth of new shares at $0.86 a share from today, with applications closing on February 19. As a maximum of $15m is sought and the institutional placement was oversubscribed, a scale back is likely. The cash will be used to fund the mine purchases and to keep Northern Star within its debt covenants, which require the company to retain a cash balance of $20m. This is a good deal for shareholders. If you are eligible and within our recommended portfolio limit of 2%, we recommend you subscribe. The Northern Star share price has risen marginally since 28 Jan 14 and although it hovers around our maximum buy price, we’re not about to quibble with a few cents. It remains a SPECULATIVE BUY.  

{{content.question}}

{{ twilioFailed ? 'SMS Code Failed to Send…' : 'Enter your SMS code' }}

A text message with your verification code was just sent to {{user.DayPhone}}

We cannot send you a code via SMS to {{user.DayPhone}}

Hi {{ user.FirstName }}, please provide your mobile number.

{{ content.trialHeading.replace('{0}', user.FirstName) }}

We'll send you a text message with a verification code to start your free trial.

Log in

{{ content.upgradeHeading.replace('{0}', user.FirstName) }}

The email address you entered is registered with InvestSMART.

Login or to reset your password, select Forgotten password

Email is required.
Email must be a valid email.
Password is required.
First name is required.
Last name is required.
Mobile phone number is required.
Mobile phone number is invalid.
You must accept the terms and conditions.

Already an InvestSMART member? Log in

SMS code cannot be sent due to: {{ twilioStatus }}

Please select one of the options below:

OR

Looks you are already a member. Please enter your password to proceed

You have entered an incorrect email or password

Email is required.
Email must be a valid email.
Password is required.

Please untick this box when using a public or shared device

Not a member? Sign up

Forgotten password? Click here

Your membership to InvestSMART Group recently failed to renew.


Please make sure your payment details are up to date to continue your membership.


Having trouble renewing?

Please contact Member Services on support@investsmart.com.au or 1300 880 160

You've recently updated your payment details.

It may take a few minutes to update your subscription details, during this time you will not be able to view locked content.


If you are still having trouble viewing content after 10 minutes, try logging out of your account and logging back in.


Still having trouble viewing content?

Please contact Member Services on support@investsmart.com.au or 1300 880 160

{{ upgradeCTAText }}

Updating information

Please wait ...

Trial

{{ productPrice }} / day
( GST included )
Price $0
Discount -{{productDiscount}}
GST {{productGST}}
TOTAL   (inc. GST) {{productPrice}}
  • Mastercard
  • Visa

Please click on the ACTIVATE button to finalise your membership

You have entered an incorrect email or password

Email is required.
Email must be a valid email.
Password is required.

Please untick this box when using a public or shared device

Not a member? Sign up

Forgotten password? Click here

{{ eventTime | date:'dd' }}{{ eventTime | date:'MMM' }}

{{ eventFunction.Name }}

{{ eventFunction.VenueName }}

{{ t.Name }}

{{ t.Cost === 0 ? "FREE" : "$" + t.Cost.toFixed(2) }}

{{ eventFunction.StartDate }}

Quantity *

Related Articles