Capital Watch: Kin, Coppermoly and more

POSITIVE signs as juniors cash up - with many more in trading halts ahead of raisings.
Capital Watch: Kin, Coppermoly and more Capital Watch: Kin, Coppermoly and more Capital Watch: Kin, Coppermoly and more Capital Watch: Kin, Coppermoly and more Capital Watch: Kin, Coppermoly and more

Staff reporter

Gold developer Kin Mining has received commitments to raise A$5.3 million in a non-renounceable rights issue.

It leaves a shortfall of 14.74 million shares which, when placed, will take the total raised to $10.4 million.

Coppermoly has launched a non-renounceable pro-rata entitlement offer to raise up to $3.21 million.

Shareholders can subscribe for one new share for every three held at a price of 0.7c per share, a hefty 42% discount to the previous closing price.

The funds raised will be used to advance exploration in Papua New Guinea.

Castillo Copper has received firm commitments to raise around $1.25 million.

The company will issue 62.5 million shares at 2c each, with a free-attaching option for each share issued.

The copper explorer is aiming to raise up to an additional $1.5 million through a share purchase plan, with funds to go towards the Cangai copper.

Western Australia-focused explorer Kaili Resources has lodged a prospectus for a one-for-two non-renounceable entitlement offer to raise $1.76 million.

The offer will be underwritten by Treasure Unicorn, a company controlled by Kaili's 37.4% shareholder Mongolia Yitai Investment Co.

Cullen Resources has received firm commitments to raise $350,000 and will launch a pro-rata, non-renounceable entitlement offer to raise up to $1.18 million.

The 2c issue price represents a 23.1% discount to the previous closing price.

NTM Gold has completed a placement to sophisticated investors to raise $950,000.

Each 4c share will come with a free 5c 2020 option.

NTM directors Paul Price, Andrew Muir and Edward van Heemst will seek shareholder approval to participate in the placement to the tune of $250,000.

Graphite explorer Comet Resources has announced a placement of 27.5 million shares at 3c each, with every two shares to come with a free-attaching 10c option.

The offer will raise $825,000 for work at the Springdale project.

Cicero Advisory Services is managing the placement.

Graphite hopeful Triton Minerals will raise $721,852 in an issue of options underwritten by Pinnacle.

The company will issue 133.6 million options at 0.54c per option on a one-for-one basis. The options expire in September 2020 and are exercisable at 10c.

Iron ore play Athena Resources has launched a non-renounceable entitlement offer to raise roughly $541,902.

The offer will be conducted on a one-for-four basis at 1c per share.

The funds will be used to advance the Byro project.

UK investor Jim Mellon has invested $500,000 in lithium explorer Dart Mining.

It's part of Mellon's commitment to invest in early stage lithium projects.

Red Mountain Mining will issue 100 million shares at half a cent each to raise $500,000.

Xcel Capital acted as lead manager, with funds to be used for the assessment of the Mokabi-Kasiri project, assessment of new opportunities and working capital.

Manganese explorer Bryah Resources has received commitments from sophisticated and professional investors to raise $303,000.

The company will issue 3.78 million shares and 1.89 million options exercisable at 30c by October 2020.

Finally, Orinoco Gold has raised a further $168,800 in its recently closed placement after accepting late funds.

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