Capital Watch: Australian Mines, St George and more

AUSTRALIAN Mines and St George lead the latest capital raisings
Capital Watch: Australian Mines, St George and more Capital Watch: Australian Mines, St George and more Capital Watch: Australian Mines, St George and more Capital Watch: Australian Mines, St George and more Capital Watch: Australian Mines, St George and more

Staff Reporter

Australian Mines has raised A$5.8 million via an oversubscribed share purchase plan, electing to accept the addition amount of $800,000. 
 
The offer, which had been underwritten by Patersons Securities, was primarily undertaken to advance the Sconi cobalt-nickel-scandium project in north Queensland through to a final investment decision later this year.
 
A further $3 million has been secured by St George Mining via an institutional‐led placement at 10c that will help fund the drilling of electromagnetic conductors at its Mount Alexander nickel-copper sulphide exploration located in the north‐eastern Goldfields of Western Australia, and escalation of exploration at the new Fish Hook prospect, including a new soil survey.
 
The company last raised $4 million four weeks ago at 11c.
 
ActivEX has struck a new loan facility with Star Diamond Developments for up to $2 million in standby funding under which the junior can draw down as required.
 
The funding is to be used on exploration activities at its Queensland projects, repayment of existing loan facilities drawn to $1.6 million with ASF Group, and for general working capital.
 
The loan will accrue interest at 12% per annum and is due for repayment on December 31, 2021. 
 
Graphex Mining has received subscriptions to raise $2.5 million via the placement of 12.5 million shares at 20c each, a 22% discount to the 15-day volume-weighted average price.
 
The placement to sophisticated and professional investors was lead managed by Bridge Street Capital Partners and Patersons Securities.
 
Proceeds will be used to complete key work streams associated with satisfying the conditions for the US$80 million funding package for the Chilalo graphite project in Tanzania.
 
Also securing a $2 million loan is Papua New Guinea explorer Crater Gold Mining, with major shareholder Freefire Technology offering the unsecured facility for development of the High Grade Zone at its Crater Mountain project
 
Marquee Resources has secured commitments for a $1 million placement at 10c that, pending shareholder approval, meets a condition under the share purchase agreement that will see it move on Centenario Lithium and enter Argentina's lithium triangle, and for initial exploration at its Redlings rare earths project. 
 
Korab Resources has raised $14,000 via a placement to an unrelated investor, with the 3.5c per share placement at a 21% premium to the last traded price. The issue of 400,000 shares equates to just 0.1% of the company.