CAPITAL MARKETS

Capital Watch: Zinc of Ireland, Venture and more

ZINC of Ireland, Venture, PepinNini, DevEx, BBX, Comet, Mithril and Magnetite rattle the tin.

Staff reporter
Capital Watch: Zinc of Ireland, Venture and more

Zinc of Ireland has raised $2.05 million in a heavily oversubscribed placement at half a cent to fund drilling at the Kildare project.

Each share will come with a free-attaching option.

In addition to the placement, the company is raising $500,000 from directors, subject to shareholder approval.

Explorer Venture Minerals is raising $2.5 million in a two-tranche placement at 3c per share.

The proceeds will fund drilling in Western Australia on base metals targets.

Argentina-focused PepinNini Minerals has executed an investment agreement with Bergen Global Opportunity Fund II to raise up to $2 million.

Bergen will provide $390,826 upfront and will invest up to an additional $1.6 million via interest-free unsecured convertible notes with a 24-month maturity.

The funds will be used for the drilling of a pumping well with the potential to be converted to a pumping well at the Rincon lithium project, and to complete resource estimates.

DevEx Resources has launched a one-for-four non-renounceable pro-rata rights issue at half a cent per share to raise up to $1.1 million.

The funds will be used to fast-track drilling of the West Arnhem copper-gold-uranium project in the Northern Territory and the Dundas lithium project in Western Australia.

BBX Minerals has received commitments to raise at least $1 million for ongoing work at the Tres Estados project.

The company will place $965,000 worth of shares at 18c each to existing sophisticated and institutional investors, while the early exercise of options by management will raise another $35,000.

Graphite player Comet Resources has placed 23.5 million shares at 4c each to raise $940,000.

Every two shares will come with a 10c December 2019 option.

The raising will fund further work at the Springdale graphite project.

Mithril Resources has launched an SPP to raise up to $600,000 for nickel drilling, with $290,000 to be underwritten by Patersons Securities.

The shares will be priced at a 20% discount to the five-day volume-weighted average price up until the closing date.

South Australia-focused Magnetite Mines has raised $1.25 million in a previously announced renounceable rights issue, representing around a 60% take-up.

The company has conducted an additional private placement to raise $300,000 to fund the costs of the first issue.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining News Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining News Intelligence team.

editions

MiningNews.net Research Report 2024

Access a multi-pronged tool to identify critical risks and opportunities in Australia’s mining industry.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.

editions

Mining Journal Intelligence Mining Equities Report 2023

Access an exclusive, inside look on the quarterly mining IPOs and secondary raisings data and mining equities performance tables with an annual Stock Exchange Comparisons supplement.

editions

Mining Journal Intelligence World Risk Report 2023 (feat. MineHutte ratings)

A detailed analysis of mining investment risks across 121 jurisdictions globally, built on 11 ‘hard risk’ metrics and an industrywide survey.