Capital Watch: Bass, Vimy and more

BASS, Vimy and Core were among the larger raisers this week.
Capital Watch: Bass, Vimy and more Capital Watch: Bass, Vimy and more Capital Watch: Bass, Vimy and more Capital Watch: Bass, Vimy and more Capital Watch: Bass, Vimy and more

Staff reporter

Graphite producer Bass Metals has received firm commitments to raise A$3.3 million via a placement.

Every two 1.25c shares issued will come with a 5c option, exercisable by the end of 2020.

The placement will leave Bass with $5.5 million cash to advance the Graphmada mine.

Uranium developer Vimy Resources has received commitments from existing institutional and sophisticated investors for a $3 million placement.

The company will issue 66.7 million shares at 4.5c in the placement, which is being managed by Euroz Securities and Morgans.

Vimy's major shareholder, Forrest Family Investments, participated in the placement.

Core Lithium has raised $3 million in a placement to advance its Finniss lithium project near Darwin.

Chinese partners Yahua and Ruifu will contribute $1.5 million.

Cobalt Blue has raised $1.68 million in a placement for drilling at Thackaringa.

Shares were placed by lead broker Blue Ocean Equities at 20c each.

Cohiba Minerals has received commitments to raise A$1.6 million for South Australian exploration.

The 1.5c per share offer was lead managed by PAC Partners and strongly supported by Hartleys.

Alaska-focused PolarX has raised $1.26 million via a placement.

Aetas Global Markets was lead manager to the 6c per share offer.

Proceeds will be used  for ongoing work at the Zackly deposit and to organise the 2019 exploration program.

Emu has agreed to place 27.5 million shares at 4c each to raise $1 million.

Every share will come with a free 20c option exercisable before January 2021.

Haiti-focused 3D Resources has announced a pro-rata, non-renounceable rights issue to raise $929,944.

The proceeds will be used to acquire two gold projects in Haiti.

Astro Resources has lodged a prospectus for the issue of 386.4 million shares at 0.24c each to raise $927,407.

The funds will be used to advance the Governor Broome and Needles mineral sands projects.

Adelaide-based Tychean Resources is planning a non-renounceable one-for-three entitlement issue at 0.3c per share to raise $577,000.

The funds will be used to progress the IronRinger transaction and for working capital.

Bowen Coking Coal has placed $500,000 to St Lucia Resources Capital Fund, an entity associated with new director Nick Jorss.

Finally, Caeneus Minerals has raised $450,000 via a convertible note issue for exploration in Nevada.