Capital Watch: Laneway, Kibaran and more

RAISINGS by Laneway, Kibaran, St George, Alligator, Todd River, Avira, Mithril, Consolidated Zinc, Emu, Parkway and Cape Lambert.
Capital Watch: Laneway, Kibaran and more Capital Watch: Laneway, Kibaran and more Capital Watch: Laneway, Kibaran and more Capital Watch: Laneway, Kibaran and more Capital Watch: Laneway, Kibaran and more

Staff reporter

Laneway Mining has resolved to raise up to A$3 million to fund the Agate Creek gold project.

The raising comprises a $1 million placement at 0.3c per share, a 7% premium to the 10-day volume-weighted average price of shares, and a $2 million convertible note issue with a face value of 0.5c per share.

Directors have committed to subscribe for $1 million, subject to shareholder approval.

Tanzanian graphite hopeful Kibaran Resources has received commitments to raise $2.8 million.

The company will issue 19.8 million shares at 14c each, with funds to be used to advance the Epanko project.

Nickel explorer St George Mining has completed a private placement to raise $2.7 million.

The funding will support an expanded drilling program at the Mt Alexander nickel project.

Uranium play Alligator Energy has received firm commitments to raise $1.75 million in a placement to clients of BW Equities.

Every two new 0.7c shares will come with a free-attaching option.

After recent exploration success, Todd River Resources has raised $1.05 million to accelerate work on the Mount Hardy copper-zinc project.

Shares were offered at 9c per share, with every two new shares coming with a 25c 2020 option.

Sanlam Private Wealth acted as lead manager.

Avira Resources has signed a mandate with CPS Capital Group to assist the company with a $916,250 raising at 0.3c.

In the meantime, the company has entered into a series of convertible loans to raise an additional $519,000.

Mithril Resources has received commitments to raise $428,732 through a placement, boosting the total raised this week to $824,232.

The company's previously announced SPP closed oversubscribed, raising $394,793 for work at the Kurnalpi nickel project.

Patersons Securities underwrote the SPP up to $290,000 and received no shortfall.

Consolidated Zinc has received $500,000 in funding by way of a convertible note to chairman Stephen Copulos' Copulos Group.

The funds will be used to advance the Plomosas zinc project towards development.

Emu has raised around $600,000 for its Chilean projects and the assessment of other opportunities.

The placement, at 4.8c per share, will be conducted in two tranches to mostly existing shareholders.

Parkway Minerals has raised $500,000 in a private placement to allow it to participate in Davenport Resources' $2.1 million fundraising.

The company will issue 50 million shares at 1c each, with each share coming with a two-year 2c free-attaching option.

Finally, Cape Lambert Resources has placed 5.25 million shares at 4c each, including a one-for-one 4c option, to raise $210,000 for cobalt-copper exploration in the Democratic Republic of Congo.

Only today, it announced it had raised a further $580,000 in cash and $134,800 to settle creditors at 3c per share.