Capital Watch: Investigator, Equus and more

THIS week's fundraising efforts from junior explorers and developers across the sector.
Capital Watch: Investigator, Equus and more Capital Watch: Investigator, Equus and more Capital Watch: Investigator, Equus and more Capital Watch: Investigator, Equus and more Capital Watch: Investigator, Equus and more

 

MiningNews.Net

Silver hopeful Investigator Resources has raised A$2.4 million in an oversubscribed placement and will seek to raise up to a further $1 million via a share purchase plan.

The issue price for both offers is 2.2c, with each share to come with a free-attaching option, exercisable at 3.5c before the end of 2020.

The proceeds will be used for the ongoing exploration and development of the Paris silver project in South Australia.

Chile-focused explorer Equus Mining has raised $2.81 million in a placement to further its Los Domos epithermal precious and base metals project.

The shares will be placed in two tranches at 3.7c apiece.

Navarre Minerals has completed a $1.55 million placement to sophisticated and institutional investors at 4c per share.

Major shareholder Kirkland Lake Gold also participated to maintain its 10% stake.

The funds will be used to advance the Irvine gold project in Victoria.

Vango Mining has secured $1.5 million in convertible notes to advance the Plutonic Dome gold project.

The notes have an 18-month term and coupon rate of 15% per annum, and can be converted into shares at a price of 18c each.

New Pilbara entrant Castle Minerals has raised $1.22 million in a placement at 3.5c.

Fellow Pilbara gold explorer Artemis Resources participated in the placement, taking a 4.8% stake in Castle.

Copper explorer Auris Minerals has completed a $1.25 million capital raising via an option issue.

Alto Metals has raised $1 million in a placement at an issue price of 7.5c per share, a 15% discount to the five-day volume-weighted average price.

It is proposed that directors will subscribe for $730,000 of the total, and shareholders will be offered the opportunity to participate in an SPP at the same price.

Aruma Resources has placed $770,000 worth of shares at 1.1c per share.

Funds raised will be put towards drilling on gold projects near Kalgoorlie.

Alloy Resources has received firm commitments to raise $600,000 to drill the Ophara cobalt-gold project.

The company will place 150 million shares at 0.4c per share to professional and sophisticated investors, while it will conduct a share purchase plan at the same price to raise up to a further $500,000.

Uranium Equities has raised $570,000 to progress copper-gold and lithium exploration in the Northern Territory and Western Australia.

The company will issue 57 million shares at 1c per share, increasing the number of shares on issue to 710.5 million.

Finally, Venus Metals Corporation plans to raise $512,000 via a one-for-three options issue.

The options are priced at 2c each and will have an exercise prices of 20c by the end of November 2019.

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