Capital Watch: Celsius, Inca and more

THE funding tap is definitely on for juniors, if some of the raisings this week are anything to go by.
Capital Watch: Celsius, Inca and more Capital Watch: Celsius, Inca and more Capital Watch: Celsius, Inca and more Capital Watch: Celsius, Inca and more Capital Watch: Celsius, Inca and more

MiningNews.Net

Celsius Resources has completed a bookbuild for the issue of 71.6 million shares at A5.5c per share to raise around $3.94 million.

Hartleys and Aesir Capital acted as joint lead managers to the placement, which was oversubscribed.

The funds will be applied to the Opuwo cobalt project in Namibia.

Peru-focused Inca Minerals plans to raise up to $3.45 million via a one-for-four non-renounceable rights issue priced at 0.6c, a 33% discount to the last closing price.

Proceeds will be used for exploration at the Cerro Rayas and Riqueza zinc-silver-lead projects.

Arafura Resources announced earlier on Tuesday that it had received commitments to place $1.5 million worth of shares at 11c per share.

The company said it had seen a significant change in the level of domestic and international interest in its Nolans rare earth project, and decided to take advantage of it to secure new funding.

A day later, Arafura announced it had received commitments to raise another $1.6 million from investors who had expressed interest but were unable to commit to the first placement by the due-date.

West African explorer Predictive Discovery has launched an eight-for-21 renounceable rights issue at 4.2c per share to raise $2.6 million, underwritten by CPS Capital to $1 million, with $1.6 million to be raised from clients and affiliates of Sprott.

The issue price is 6.4c, a 34% discount to the 30-day volume-weighted average price of shares.

Each new share will come with a free-attaching option.

Stonewall Resources has reaised $2.5 million in a placement managed by Peak Asset Management.

Shares were issued at 1.9c, and the company will launch a share purchase plan at the same price.

Andromeda Metals has completed an oversubscribed placement and will conduct a placement to raise a total of $2 million.

It comes after the company announced the acquisition of 11 exploration license applications in the Pilbara.

Argosy Minerals says it closed its $2 million SPP early after being “inundated” with demand.

The raising will help to advance the Rincon lithium project in Argentina.

Toronto-listed Macarthur Minerals has announced a fully underwritten rights issue to raise C$1.9 million to fund Pilbara exploration.

The company has entered into a standby guarantee for $1.9 million with Perth-based Orbit Drilling, with Orbit to purchase any units not subscribed for in the rights issue.

A share purchase plan by Minotaur Exploration targeting $1 million has resulted in applications for double that amount.

The company will scale-back applications to the original $1 million.

Tungsten and copper explorer Thor Mining has placed 29.4 million shares at 0.01p each to raise £565,000 in two tranches.

Chairman Mick Billing and director Paul Johnson will participate in the placement, subject to shareholder approval.

Each new share will come with a warrant, exercisable at 1.2p per share within one year.

Alto Metals received commitments to raise A$600,000, taking total proceeds from a previously announced placement to $1.6 million.

The proceeds will be used for drilling at the Sandstone gold project.

Cullen Resources has launched an SPP to raise up to $300,000, with new shares priced at 0.1c per share.

 

Finally, Lanka Graphite has placed 5.8 million shares at 4.5c per share to raise $261,750.