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New Century chooses equity over Sprott debt

Emerging zinc producer New Century Resources (ASX: NCZ) had ditched plans to utilise debt for developing its major tailings reprocessing venture at Century in Queensland and instead will use the funds from a fully underwritten A$40 million (US$30 million) placement.

New Century chooses equity over Sprott debt New Century chooses equity over Sprott debt New Century chooses equity over Sprott debt New Century chooses equity over Sprott debt New Century chooses equity over Sprott debt

The company claims the placement - to be priced at A$1.15 per share and underwritten by Credit Suisse - gives it greater financial flexibility "given the restrictions on timing of the use of fun...