Capital Watch: Corizon, Walkabout and more

THE latest capital raisings at the junior end of the mining sector.
Capital Watch: Corizon, Walkabout and more Capital Watch: Corizon, Walkabout and more Capital Watch: Corizon, Walkabout and more Capital Watch: Corizon, Walkabout and more Capital Watch: Corizon, Walkabout and more

Staff reporter

Corizon has lodged a prospectus for a one-for-one non-renounceable entitlement offer to raise up to $3.65 million.

The lead manager is Cicero Advisory Services.

The offer is part of the company's re-compliance with ASX listing rules as it acquires Western Australian projects and changes its name to eMetals.

Graphite developer Walkabout Resources has launched a $3 million share purchase plan, underwritten by Patersons Securities.

Shares will be issued at a 15% discount to the five-day volume-weighted average price.

The cash will be used to progress the development of the Lindi Jumbo project in Tanzania while the company continues funding talks.

GBM Gold has secured an investment of $2.75 million via a private placement of 275 million shares at 1c each.

The company will use the funds to advance the Kangaroo Flat Sand Dam and Harvest Home projects, and to make the third deferred bond payment to Unity Mining.

New South Wales explorer Rimfire Pacific Mining has launched a non-renounceable rights issue to raise up to $2.1 million.

Shares are being offered at 0.9c each, with every new share to come with a free-attaching 2.2c option.

The offer is being managed by CPS Capital and commitments have already been received for over $500,000.

Diatreme Resources has received binding commitments to raise just over $2 million via a private placement to professional and sophisticated investors at 2c each.

The company will also issue a 3c option for every two new shares issued.

The funds will allow the company to complete the Cyclone zircon project definitive feasibility study and for further work on the Cape Bedford silica project.

Explorer Sipa Resources has launched an SPP to raise $1.5 million for copper-gold work in WA's Paterson Province.

The issue, to be priced at a 20% discount to the five-day VWAP, will be fully underwritten by Patersons Securities.

India-backed Shree Minerals has launched a non-renounceable rights issue to raise $1.42 million.

The issue is fully underwritten by DJ Carmichael.

The fundraising came as Shree entered into an option to acquired Leonora and Coolgardie leases prospective for gold.

Finally, re-emerging phosphate player Celamin Holdings has announced an SPP to raise up to $673,005.

To thank shareholders for their support during a three-year trading suspension, the company will make an issue of one bonus option for every two shares held.

In addition, Celamin is proposing to raise an additional $250,000 via a placement.