Capital Watch: Navarre, Tasman and more

THIS week's capital raisings across the junior end of the market.
Capital Watch: Navarre, Tasman and more Capital Watch: Navarre, Tasman and more Capital Watch: Navarre, Tasman and more Capital Watch: Navarre, Tasman and more Capital Watch: Navarre, Tasman and more

Staff reporter

Navarre Minerals is looking to raise up to A$2.5 million to fund Victorian gold exploration.

The company has already raised $1.7 million in a placement of nearly 34 million shares at 5c each.

Existing shareholders like Kirkland Lake Gold and the Victor Smorgan Group participated.

The company will launch a share purchase plan to raise up to a further $800,000.

South Australian-focused Tasman Resources has lodged a prospectus for a one-for-10 non-renounceable pro-rata rights issue to raise up to $2.26 million.

Each 5c share will come with a 6c August 2020 option.

The funds are being sought for exploration, participation in the Conico rights issue and to exercise options in Eden Energy.

Caravel Minerals is seeking to raise just over $2 million via a one-for-three non-renounceable rights issue at 5c.

Bridge Street Capital Partners is lead manager and will underwrite the offer up to $1.15 million.

The proceeds will fund ongoing work at the Calingiri copper project.

Queensland explorer Hammer Metals is aiming to raise up to $806,776 via an option issue.

The company will issue three options for every five shares held at an issue price of half a cent per option.

The offer is fully underwritten by DJ Carmichael.

Clancy Exploration has raised $750,000 via a placement managed by Patersons Securities to fund cobalt exploration in Morocco.

Each two new 0.3c shares will come with free-attaching 0.4c option.

Sabre Resources has launched an SPP priced at 1.5c per share, with every new share to come with a free-attaching 3c October 2019 option.

Tihaak Business SA is underwriting the offer to $500,000.

Estrella Resources has received commitments to raise $500,000 via a 2.5c per share placement to sophisticated investors, with each share to come with a one-for-one option.

The funds will be used to progress nickel exploration in Western Australia.