Capital Watch: Equus, Kingwest and more

A BIG week for junior fundraisings this week.
Capital Watch: Equus, Kingwest and more Capital Watch: Equus, Kingwest and more Capital Watch: Equus, Kingwest and more Capital Watch: Equus, Kingwest and more Capital Watch: Equus, Kingwest and more

Staff reporter

Chile-focused gold-silver explorer Equus Mining has completed an institutional placement to raise $4.5 million, and will seek an additional $500,000 via a rights issue.

Taylor Collison is lead manager to the placement, which will be conducted in two tranches at 1c per share.

Kingwest Resources has received firm commitments from professional and sophisticated investors to raise $4 million to fund the acquisition of the Menzies gold project.

The placement will be conducted in two tranches at an issue price of 15c per share, a 6% discount to the last traded price.

Peloton Capital is lead manager.

Alpha HPA has raised $3.5 million at 10c per share in a placement to sophisticated investors.

The cash will be used to advance the company's HPA First pilot plant and definitive feasibility study.

Nova Minerals' share purchase plan has closed over 200% oversubscribed, receiving applications for more than $3.2 million when it was seeking $1 million.

The company has decided to scale up the SPP to $2.5 million.

The bulk of the funds will be used for the Estelle gold project in Canada.

Papua New Guinea-focused Gold Mountain has received commitments for a placement to raise $2.5 million.

The funds will be used for initial diamond drilling at the Mongae prospect, part of the Wabag project.

Marindi Metals has reached agreement with Forrest Capital for the underwriting of a previously announced $2.2 million entitlement offer.

Hammer Metals has announced a placement to raise $1.76 million to accelerate exploration at its Bronzewing South gold project.

The 2c per share offer was oversubscribed and supported by new and existing domestic and international investors.

Discovery Capital Partners acted as lead manager.

Venus Metals Corporation has received an application from QCoal Group's Christopher Wallin for a private placement of 6 million new shares at 20c each to raise $1.2 million.

It is expected Wallan will hold just over 5% of Venus.

Gold explorer Great Southern Mining has launched a non-renounceable pro-rata entitlement offer of one option for every three shares held to raise just over $1 million.

The options will be issued at 10c each, but will be exercisable at 5c within three years.

Auroch Minerals has closed a placement that raised $630,000 for nickel drilling.

Golden Triangle acted as lead manager for the 7c per share issue.

Superior Resources has raised $486,000 via a placement of 60.75 million shares at 0.8c per share.

Funds will be used for exploration and working capital.

Southern Gold has signed subscription agreements with four major shareholders that will see it place 4 million shares at 11c each to raise $440,000.

It will add to the recent $2.3 million rights issue, subject to shareholder approval.

Finally, King Island Scheelite has placed $200,000 worth of shares to Gekko Systems, a key contractor on the Dolphin tungsten project.

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