Capital Watch: Hexagon, Rex and more

RAISINGS for Hexagon, Rex, Nova, Ausgold, Volt, Santana, Alchemy, Monax and Niuminco.
Capital Watch: Hexagon, Rex and more Capital Watch: Hexagon, Rex and more Capital Watch: Hexagon, Rex and more Capital Watch: Hexagon, Rex and more Capital Watch: Hexagon, Rex and more

Staff reporter

Graphite company Hexagon Resources has completed an oversubscribed placement to raise A$7 million.

Tribeca Global Resource Fund supported the placement, while Mineral Resources also came onto the register.

Rex Minerals has successfully completed a $6 million placement after initially seeking $5 million.

Baillieu Holst acted as lead manager with Arlington Group Asset Management as co-manager.

The oversubscribed 11c per share offer will be followed by a share purchase plan at the same price.

Canada-focused Nova Minerals has conducted a private placement to raise $1.73 million and will raise another $1.55 million in a rights issue.

The placement was heavily oversubscribed and the rights issue was launched in response to shareholder requests to participate.

The issue price is 3.25c per share, with every two new shares to come with a 3.25c 2020 free-attaching option.

The proceeds will be used to accelerate work on the Thompson Brothers lithium project and Estelle gold-copper project.

Ausgold is conducting a placement to raise up to $2.4 million to advance the Katanning gold project.

The placement is being conducted at 3c, a premium to the closing price of 2.8c before the raising was announced.

Graphite developer Volt Resources has received binding commitments to raise $2 million in a placement.

Patersons Securities was lead manager to the 2.3c per share offer.

The funds will be used to repay a convertible loan facility and for working capital purposes.

Santana Minerals' previously announced renounceable rights issue has closed oversubscribed, raising $1.52 million.

The company will conduct an additional placement of $250,000 to accommodate some of the excess demand.

Alchemy Resources has launched a one-for-four non-renounceable rights issue at 1.5c per share to raise up to $1.32 million.

Chairman Lindsay Dudfield has agreed to partially underwrite the offer to up to $200,000.

The funds will be used for resource drilling at the West Lynn nickel-cobalt-aluminium project and exploration at the Overflow gold-base metals project, both in New South Wales.

Monax Mining has raised $184,968 in a placement to sophisticated investors to accelerate its battery metals strategy.

Finally, Niuminco Group has raised just $17,000 via a placement to professional and sophisticated investors for working capital purposes.