Capital Watch: Peak, Sayona and more

JUNIORS rattling the tin continued to attract investor interest this week.
Capital Watch: Peak, Sayona and more Capital Watch: Peak, Sayona and more Capital Watch: Peak, Sayona and more Capital Watch: Peak, Sayona and more Capital Watch: Peak, Sayona and more

Staff reporter

Rare earth developer Peak Resources has increased the size of its recently announced raising to A$7.33 million from $6.3 million after Appian Natural Resources Fund confirmed its participation.

Appian will subscribe for $1.03 million to maintain its pre-placement holding of 14.06%.

The company will use the funds to advance the Ngualla project in Tanzania to a development decision.

Sayona Mining has launched a one-for-22 pro-rata non-renounceable entitlement offer to raise up to A$3.9 million.

Every two new 5.1c shares will come with a free-attaching 7.8c option.

Patersons Securities is acting as lead manager to the offer.

Phosphate player Minbos Resources has raised $717,550 at 0.2c in a placement, and it undertaking a non-renounceable rights issue to raise $2.82 million at 0.1c per share.

Aesir Capital is lead manager for the offer.

PolarX has received commitments to raise $2.5 million at 10.5c per share for resource extensional drilling at the Zackly project in Alaska.

Aetas Global Markets was lead manager and bookrunner, with Amvest Capital as North American co-manager.

Golden Deeps has completed a private placement to raise $2.2 million at 6c per share.

Subject to shareholder approval, each share will come with a free-attaching option exercisable at 10c before the end of April 2019.

The funds will be used to accelerate drilling at the Abenab-Christiana vanadium-lead-zinc project in Namibia.

Nickel-cobalt player GME Resources has launched a one-for-25 renounceable entitlement offer at 11c per share to raise up to $2 million.

Major shareholders have indicated their intention to take up $1.22 million of the offer, with Somers & Partners agreeing to underwrite the balance.

The funds will be used for the NiWest prefeasibility study.

Finally, lithium developer Core Exploration has agreed to place a further $1.4 million of shares to Yahua International Investment and Development Co.

It will take Yahua's interest in Core to 9.7%.

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