Capital Watch: Troy, Birimian and more

CAPITAL raisings launched or completed over the holiday break.
Capital Watch: Troy, Birimian and more Capital Watch: Troy, Birimian and more Capital Watch: Troy, Birimian and more Capital Watch: Troy, Birimian and more Capital Watch: Troy, Birimian and more

Staff reporter

Gold producer Troy Resources has completed a A$2.5 million placement, which was short of what it was initially seeking due to adverse market conditions.

The issue price was 10.5c per share, a 2c discount to the previous closing price.

The company will also conduct a share purchase plan at the same price.

The proceeds will be used to ramp up drilling at the Ohio Creek prospect.

Birimian has completed a previously announced $4.35 million placement, but the $1.6 million balance that was to be taken up by a Chinese investor was terminated.

Joint lead managers Ironside Capital and Hartleys have secured new commitments to raise $900,000, including $300,000 from directors, to take the total raised to $5.25 million.

The funds will be used to advance the Goulamina lithium project.

Coppermoly has closed an entitlement offer, raising $2.4 million.

The company had been seeking to raise up to $3.2 million for Papua New Guinea exploration.

Chile-focused Freehill Mining has placed $625,000 worth of shortfall shares from a recent undersubscribed rights issue.

The company had been seeking to raise over $3 million but received subscriptions for just $603,000, or 19.6%.

It is in talks to place the remaining shortfall.

Orinoco Gold has appointed Empire Capital Partners as lead manager of a $556,200 placement at 0.7c per share, to come with free-attaching, three-year 0.1c options.

A further $470,000 of debt to related parties will be converted to equity.

The company has also mandated Empire to secure a two-year $2.5 million equity placement facility.

Fellow Brazil-focused gold play Crusader Resources has received subscriptions for an issue of a further $500,000 worth of convertible notes.

The company issued $200,000 worth of notes to Eyeon Investments, a company associated with director Stephen Copulos, subject to shareholder approval.

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