Capital Watch: Altura, Northern Cobalt and more

ALTURA upsizes its share purchase plan again; plus raisings from the exploration sector.
Capital Watch: Altura, Northern Cobalt and more Capital Watch: Altura, Northern Cobalt and more Capital Watch: Altura, Northern Cobalt and more Capital Watch: Altura, Northern Cobalt and more Capital Watch: Altura, Northern Cobalt and more

Staff reporter

Lithium producer Altura Mining has increased the size of its share purchase plan for the second time this week due to strong demand.

The company was initially seeking A$5 million, but increased it to $10 million earlier this week due to demand.

Altura today upsized the offer further to $14 million to meet demand after declaring commercial production at its namesake mine on Wednesday.

Northern Cobalt has signed a controlled placement agreement with Acuity Capital for up to $2 million.

The company is under no obligation to use the facility, which expires at the end of next year.

If the company moves ahead with the placement, it will be able to set a floor price with the final price to be calculated as the greater of the floor price or a 10% discount to the 10-day volume-weighted average price.

NTM Gold has received another $1.5 million from DGO Gold, the second tranche of a previously announced investment.

The funds will be used to accelerate exploration at the Redcliffe gold project near Leonora.

Argentina explorer PepinNini Lithium is inviting shareholders to participate in a pro-rata non-renounceable one-for-two entitlement issue to raise $1.22 million.

Every two 0.3c shares will come with a free-attaching option.

The issue is underwritten by RM Capital.

Metminco has reported strong demand for a placement of convertible notes to raise up to $1 million.

The funds will be used to progress the proposed merger with Andes Resources, announced this week, as well as for working capital.

The issue will go towards satisfying the proposed $4 million capital raising to be undertaken as part of the merger.

Finally, Inca Minerals has raised $170,000 via two placements, one at 0.5c and one at 0.4c.