Capital Watch: Lake, Ausgold and more

A NUMBER of juniors got fundraisings over the line this week.
Capital Watch: Lake, Ausgold and more Capital Watch: Lake, Ausgold and more Capital Watch: Lake, Ausgold and more Capital Watch: Lake, Ausgold and more Capital Watch: Lake, Ausgold and more

Staff reporter

Argentine-focused lithium company Lake Resources has issued $1.65 million worth of unsecured convertible securities to a New York-based investor to allow the completion of the Kachi prefeasibility study.

Lake has the option to increase the size of the facility up to $5 million.

Amvest Capital (acting through Mann Mann Jensen Partners) served as North American placement agent to the financing.

Ausgold has received binding commitments to raise $1.8 million via the issue of 90 million shares at 2c each.

The proceeds will be used to advance the Katanning gold project.

Papua New Guinea-focused Gold Mountain has completed a placement to raise $1.3 million.

Every two 6.5c shares came with two free 10c and 15c options, expiring in 2020 and 2021 respectively.

Graphite player Kibaran Resources will raise $1.1 million at 10c per share, an 8% discount to the five-day volume-weighted average price.

The company's largest shareholders supported the placement, with the proceeds to be used to secure debt finance for the Epanko project and to finalise plans for a battery graphite facility in Asia.

New Age Exploration has received firm commitments from clients of lead manager CPS Capital to raise $940,500.

The placement will fund development, new opportunities and working capital.

Lithium explorer BMG Resources has closed a $672,680 placement, bringing the total amount raised in the past few months to more than $1.6 million.

The company's upcoming work program in Chile is now fully funded.

Eastern Goldfields explorer Aruma Resources is raising up to $541,200 via the issue of 90.2 million shares at 0.6c.

The company has received $455,200 with firm commitments for a further $86,000.

Directors have committed to $105,000 worth of shares on the same terms, subject to shareholder approval.

Finally, Enterprise Metals has announced a share purchase plan at 1c per share to raise up to $500,000.

Funds will be directed to the Murchison project in WA.