Capital Watch: DGO, Audalia and more

RAISINGS underway or completed for DGO, Audalia, Celsius, Encounter, Great Boulder, Dart, Sipa and Pure.
Capital Watch: DGO, Audalia and more Capital Watch: DGO, Audalia and more Capital Watch: DGO, Audalia and more Capital Watch: DGO, Audalia and more Capital Watch: DGO, Audalia and more

Staff reporter

Pilbara gold player DGO Gold has announced a one-for-two entitlement offer to raise $4.43-5.99 million.

Every 75c share issued will come with a $1 December 2021 option.

The raising is being conducted to allow DGO to make a previously announced $5 million investment in De Grey Mining.

Audalia Resources has released a prospectus for a non-renounceable entitlement offer to raise up to $3.8 million.

The company has set a minimum subscription of $1.5 million for the one-for-one 1c issue.

The proceeds will be used to advance the Medcalf vanadium-titanium project southeast of Perth.

Celsius Resources has closed its $3 million share purchase plan, with the heavily subscribed offer attracting applications for more than $6 million.

The SPP, being undertaken in conjunction with a recent $9 million placement, will fund the advancement of the Opuwo cobalt project in Namibia.

Western Australian explorer Encounter Resources has raised $2.75 million in a strongly supported placement.

The 6c per share placement will be conducted in two tranches, with shareholder approval required for the second tranche and also for directors to participate.

The funds will be used to advance gold and base metals projects.

Great Boulder Resources says drilling at its Mt Venn copper-nickel-cobalt project in WA will be accelerated following a $2.5 million share placement. 

The oversubscribed raising was conducted at 27c per share, equal to the last closing price before the placement was announced.  

Bell Potter Securities acted as sole lead manager to the placement.

Victorian explorer Dart Mining has launched a one-for-three entitlements issue at 0.9c per share to raise up to $1.92 million.

Each share will come with a free-attaching option, exercisable at 1c by the end of February 2019.

Sipa Resources has raised $1.04 million to underpin drilling at its Paterson North copper-gold project in the Pilbara.

The company will issue 104 million shares at 1c per share, a 9.1% discount to the last closing price before the placement was announced.

Finally, Pure Minerals has received firm commitments to raise $700,000 to advance work on the Battery Hub project.

The company will place 43.75 million shares at 1.6c each to professional and sophisticated investors, with each share to come with a free-attaching 3c option, exercisable by December 2019.

Xcel Capital acted as lead manager.