Capital Watch: KPC, Alliance and more

SUBSTANTIAL raisings from KPC, Alliance and Venturex to kick off the week.
Capital Watch: KPC, Alliance and more Capital Watch: KPC, Alliance and more Capital Watch: KPC, Alliance and more Capital Watch: KPC, Alliance and more Capital Watch: KPC, Alliance and more

Staff reporter

Kazakhstan Potash Corp is finalising plans for an underwritten one-for-two non-renounceable pro-rata rights issue to raise around A$6.2 million.

The 0.8c per share offer will fund the completion of the Satimola acquisition and working capital.

Gold explorer Alliance Resources has announced a partially underwritten non-renounceable one-for-two rights issue to raise up to $4.95 million.

The 9.5c issue price is equal to the last closing price and a 9.2% discount to the 30-day volume-weighted average price.

Patersons Securities will underwrite the issue to $4 million.

The proceeds will be used to advance the Wilcherry project in South Australia.

Copper-zinc developer Venturex Resources has raised $3.65 million in an institutional placement at 22c per share.

Several new institutional and strategic investors will join the register.

Major shareholder Northern Star Resources will convert the remaining $1 million loan to Venturex to shares to take its stake to 19.9%.

The placement will fund Venturex through the financing and permitting phase of the Sulphur Springs project.

AustSino Resources Group has reported that a planned private placement to Guan Min Jie to raise $2.6 million has been terminated.

Guan did not advance the funds by Friday's deadline.

AustSino, which is suspended pending funding, said it would have enough cash to fund activities.

Nigeria-focused Symbol Mining will raise $2.16 million in a placement and entitlement issue.

The raising will comprise a $1.8 million placement and a $365,000 option issue, with the latter to be underwritten by lead manager CPS Capital.

Bowen Coking Coal has placed $1.7 million worth of shares to sophisticated and professional investors.

The shares were issued at 2.1c, a 5% premium to the previous price.

The proceeds will be used to fast-track work at the Isaac River project.

Cazaly Resources has completed a placement to professional and sophisticated investors to raise $750,000.

Every two new 2.5c shares issued will come with a 5c March 2021 option.

Finally, graphite explorer Metals Australia has completed a private placement to raise $630,000.

Shares will be issued at 1.8c each, with every new share to come with a 3.5c option expiring in June 2022.

Sanlam Private Wealth was lead manager and sole bookrunner.