Capital Watch: A-Cap, Alderan and more

A-CAP, Alderan and TNG were among the companies to raise cash.
Capital Watch: A-Cap, Alderan and more Capital Watch: A-Cap, Alderan and more Capital Watch: A-Cap, Alderan and more Capital Watch: A-Cap, Alderan and more Capital Watch: A-Cap, Alderan and more

Staff reporter

Uranium company A-Cap Resources has launched a non-renounceable rights issue to raise A$4 million.

The company will offer two new shares for every 6.54 shares held at an issue price of 6c, a 15.2% discount to Thursday's closing price.

The offer will be underwritten by China's Jiangsu.

US-focused copper-zinc explorer Alderan Resources has received firm commitments to raise $3 million via a placement of 5 million shares at 60c apiece.

The placement was lead managed by BW Equities and supported by institutions.

The funds will be used to fund a high-impact drilling program at the Accrington and Perseverance prospects at the Frisco project in Utah.

TNG has increased its previously announced placement from $3 million to $3.9 million due to high demand from institutional investors.

Silver Mines has raised $2.75 million via a placement in two tranches to institutional, professional and sophisticated investors.

The 4c per share placement will fund the feasibility study and environmental impact statement for the Bowdens project in New South Wales, as well as drilling new targets.

Centaurus Metals has signed an option underwriting agreement with Peloton Capital to raise $2.25 million for exploration in Brazil.

The company has 224.5 million listed 1c options expiring at the end of the month.

The deal will bolster Centaurus' cash position to $4.8 million.

Fertoz has raised $2 million in a 17c per share placement managed by Blackwood Capital.

The proceeds will help the company meet the surge in demand for its products in North America.

DGO Gold has placed 1.25 million shares at 80c each to an unnamed sophisticated investor to raise $1 million.

Magnetic Resources has raised $601,800 from new and existing shareholders via a placement at 15c per share, an 8% discount to the previous week's closing price.

Directors will participate, subject to shareholder approval.

The raising will fund gold exploration at the Hawks Nest project.

Finally, Venus Metals Corporation has raised $250,000 in a private placement at 12c per share.