Capital Watch: De Grey, Kasbah and more

THERE'S been a slight pick-up in capital raisings in the first few days of this week.
Capital Watch: De Grey, Kasbah and more Capital Watch: De Grey, Kasbah and more Capital Watch: De Grey, Kasbah and more Capital Watch: De Grey, Kasbah and more Capital Watch: De Grey, Kasbah and more

Staff reporter

De Grey Mining has entered into an underwriting agreement with Taylor Collison for the underwriting of A$3.75 million worth of November 2018 10c options.

The Taylor Collison deal is supported by various sub-underwriting agreements.

Proceeds will be used to advance the Pilbara gold project.

Tin developer Kasbah Resources will conduct a share purchase plan to raise up to $3.45 million.

The 1.1c per share issue price is equal to the five-day volume-weighted average price.

All eligible directors and the CEO plan to participate in the SPP.

Greenland-focused Ironbark Zinc has completed a bookbuild for a placement to institutional and sophisticated investors to raise up to $2 million at 2.8c per share.

Patersons Securities and Petra Capital acted as joint lead managers to the placement.

The proceeds will be used to advance the Citronen project to financing and development.

European Metals Holdings has raised just over £1 million via a placement to Australian and UK investors for its Cinovec project.

The 20p per share issue price represents a 13% discount to the previous closing price.

Cadence Minerals subscribed for 250,000 shares, taking its post-placement holding to 19.16% of EMH.

Galan Lithium has entered into an underwriting agreement with Barclay Wells in relation to quoted options expiring at the end of the year.

The agreement guarantees the company will receive $1.59 million, which will be used to advance the Hombre Muerto lithium project in Argentina.

Gold explorer Middle Island Resources is conducting a pro-rata one-for-two non-renounceable entitlement offer to raise up to $1.39 million.

The issue price is 4c per share, a hefty 42.9% discount to the previous close and 63.4% discount to the 30-day VWAP.

The funds are being raised to advance the Sandstone gold project.

Metminco has launched a two-for-five rights issue at 0.3c per share to raise up to $1.25 million for the Quinchia gold project in Colombia.

The issue will be partly underwritten by company director Kevin Wilson.

Brazil-focused gold miner Orinoco Gold has raised $1.18 million via a share placement and convertible loans.

A placement at 1.35c per share, with a free-attaching one-for-one 3c option, raised $665,200, while the company issued $520,000 of convertible loans to directors.

Mithril Resources has raised $150,257 in a placement, and will raise another $959,974 in a rights issue to be fully underwritten by Patersons Securities.

The issue price for both offers is 0.5c per share.

The proceeds will be used to advance zinc and nickel targets at the Billy Hills and Kurnalpi projects.

Finally, Allan Kelly's Riversgold has raised $500,000 in a placement supported by major shareholder Evolution Mining.

The company will also conduct an SPP at 7.5c per share, the same price as the placement.

The funds will be used to drill priority Western Australian gold targets.

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