- FireFly Metals raises A$52 million for exploration at Green Bay Project.
- Acquisition of project to boost resource expansion in Newfoundland.
- Canaccord Genuity led the successful financing with global investor engagement.
FireFly Metals has raised A$52 million through Canaccord Genuity to support further exploration at the Green Bay Copper-Gold Project in Newfoundland, Canada. The funding will enhance FireFly’s capacity to expand its mineral resources following its acquisition of the project in August 2023. The transaction was effectively coordinated by Canaccord Genuity’s investment banking and ECM/Syndication teams.
Funding for exploration
Canaccord Genuity has successfully raised A$52 million for FireFly Metals (ASX: FFM) to fund ongoing exploration activities at its Green Bay Copper-Gold Project. This financial injection underscores the potential of the large-scale underground mine located in a tier-one mining jurisdiction.
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Project acquisition and development
In August 2023, FireFly, an emerging copper-gold company operating out of Newfoundland, Canada, acquired the Green Bay Copper-Gold Project. Since this strategic acquisition, FireFly has been committed to a significant exploration programme designed to rapidly expand the mineral resource.
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Leadership and coordination
The equity raising was managed by Canaccord Genuity, serving as the Global Coordinator, Joint Lead Manager, and Joint Bookrunner. The success of the transaction is attributed to the leadership of MD Steve Parsons, Executive Director Michael Naylor, CEO Darren Cooke, and the FireFly team. Furthermore, the ECM/Syndication effort was led by Alex Unsworth and Will Morley, with Nathan Mackay, James Thomson, and Digby Gilmour driving global investor engagement.
About Canaccord Genuity
Canaccord Genuity is recognised as a leading Australian financial services firm, effectively blending local expertise with an extensive global network to offer premium Capital Markets and Wealth Management services. The firm’s Capital Markets division stands out as an established leader in the Australian mid-market, boasting significant expertise across key growth sectors of the global economy. Additionally, the Wealth Management division maintains a robust national presence, operating from eight offices with over 118 advisers and managing assets worth approximately $22 billion.
