Capital Watch: Carnavale, Element 25 and more

CAPITAL raisings in the junior space slowed over the past week.
Capital Watch: Carnavale, Element 25 and more Capital Watch: Carnavale, Element 25 and more Capital Watch: Carnavale, Element 25 and more Capital Watch: Carnavale, Element 25 and more Capital Watch: Carnavale, Element 25 and more

Staff reporter

Carnavale Resources has raised $225,000 in a placement and will launch a non-renounceable entitlement issue to raise a further $2.29 million.

Shares are being offered at 0.3c each with every two shares to come with a free-attaching 0.7c option.

The funds will be used for exploration in Uganda and Australia.

Manganese developer Element 25 has raised $1.33 million in a share purchase plan and placement.

Cash raised will be used to accelerate the prefeasibility study on the Butcherbird project.

Kogi Iron has launched a pro-rata non-renounceable entitlement offer to raise $1.3 million.

The 1c, one-for-five offer is fully underwritten by Patersons Securities.

Aurora Minerals has launched a one-for-one underwritten entitlement offer to raise $1.17 million.

The offer, to be underwritten by Grange Capital Partners, is priced at 1c, a 21.2% discount to the 30-day volume-weighted average price.

The funds will be used to acquire new projects.

Papua New Guinea gold play Kingston Resources has received acceptances for 58.66 million shares in its entitlement offer, leaving a shortfall of 192.8 million shares.

The issue raised $938,670.

Gold explorer Riversgold has raised $218,000 via the placement of 9.93 million shares at 2.2c each.

Truscott Mining Corporation is raising up to $200,000 at 2c per share via Martin Place Securities.

Finally, Caeneus Minerals has launched a placement to raise $195,506 at 0.7c, with every new share to come with a 0.25c option.