Capital Watch: Gold Mountain, Alta and more

MORE juniors managed to secure a cash injection this week.
Capital Watch: Gold Mountain, Alta and more Capital Watch: Gold Mountain, Alta and more Capital Watch: Gold Mountain, Alta and more Capital Watch: Gold Mountain, Alta and more Capital Watch: Gold Mountain, Alta and more

Staff reporter

Gold Mountain has secured commitments from professional and sophisticated investors to raise up to A$10 million.

Every two 10c placement shares with come with a 15c option exercisable within two years.

The proceeds will be used for Papua New Guinea exploration and working capital.

Alta Zinc has launched a four-for-five non-renounceable rights issue at 0.4c per share to raise up to $4.38 million.

The cash is being raised to advance the Gorno project in Italy.

Rare earths producer Northern Minerals has entered into a subscription agreement with Liu Xiaohua to place 60 million shares at A5c each to raise $3 million in two tranches.

The funds will be used for working capital.

Vector Resources has finalised a placement to raise $2.63 million via a placement at 1.8c per share, a discount of 23.5% to the previous closing price.

The proceeds will be used for working capital.

Burkina Faso gold explorer Golden Rim Resources has received commitments to raise around $2.25 million in a placement lead managed by Hartleys and co-managed by Adelaide Equity Partners.

London-listed Capital Drilling cornerstoned the issue, becoming a 12% shareholder.

Dual-listed First Cobalt has entered into an agreement with an investor for a non-brokered private placement to raise C$2 million at 18c.

Each unit issued will comprise a common share and a two-year, 27c warrant.

The company will use the funds to support work at its refinery project.

Finally, Santana Minerals has agreed to place $250,000 worth of shares at 0.5c per share to Alpha HPA and $150,000 to Lowell Resources Fund.

The company will also launch a share purchase plan to raise up to $800,000.

The cash will be used for exploration in Chile and Mexico.