Capital Watch: European Lithium, Volt and more

JUNIORS continue to have success in securing funds with numerous raisings above A$4 million this week.
Capital Watch: European Lithium, Volt and more Capital Watch: European Lithium, Volt and more Capital Watch: European Lithium, Volt and more Capital Watch: European Lithium, Volt and more Capital Watch: European Lithium, Volt and more

 

MiningNews.Net

European Lithium has received firm commitments to raise $5 million, after initially seeking $4 million.

The company will place shares at 22.5c each mostly to European shareholders, with every four new shares to come with a free-attaching option, exercisable at 25c before May 31, 2019.

The proceeds will fund ongoing work at the Wolfsberg lithium project in Austria.

Graphite developer Volt Resources has entered into an underwriting agreement with Empire Capital Partners and Cove Capital for the underwriting of options.

The firms will underwrite 233.6 million options at a 2c exercise price to raise $4.7 million.

The options expire at the end of the month.

Marindi Metals has announced a placement and fully underwritten entitlement offer to raise $4.4 million.

The company will raise $1.3 million via a placement to institutional and sophisticated investors, and $3.1 million in a one-for-six non-renounceable entitlement offer underwritten by Argonaut Securities.

The issue price for both offers is 1.2c per share, a 17% discount to the five-day volume-weighted average price of shares.

Quantum Resources, which will change its name to Nova Minerals, has completed an oversubscribed placement to raise around $3.22 million.

The company now has $3.9 million in cash to advance the Thompson Bros and Alaskan lithium projects.

Gold developer Matsa Resources has conducted a placement to clients of Sung Yoon Chon to raise $2.4 million.

The funds will be used to advance the Red Dog and Red October projects.

Great Western Exploration has raised $2 million to expand drilling at its promising Yandal West project.

Hartleys was broker to the placement of 100 million shares at 2c per share.

Anglo Australian Resources will place 19 million shares at 7.8c each to raise $1.5 million.

The company is planning back-to-back exploration programs at its Feysville gold project.

Investigator Resources’ share purchase plan has closed oversubscribed with applications for more than $1.18 million received.

Marmota has raised $1 million through the placement of shares at 2c each to fund work at the Aurora Tank gold project.

Every two new shares issued will come with a free-attaching 3c option.

Emu has agreed to place 4 million shares to raise $600,000 for Chilean gold drilling.

FYI Resources has reached agreement with Regal Funds Management for a $500,000 placement, to be conducted in two tranches.

Avira Resources has announced a non-renounceable entitlement offer to raise $261,265.

Finally, Technology Metals Australia entered a trading halt on December 1 regarding a capital raising, but decided not to proceed.