Capital Watch: Australian Vanadium, REZ and more

AUSTRALIAN Vanadium, Resources & Energy and Kingston all raise over $3 million.
Capital Watch: Australian Vanadium, REZ and more Capital Watch: Australian Vanadium, REZ and more Capital Watch: Australian Vanadium, REZ and more Capital Watch: Australian Vanadium, REZ and more Capital Watch: Australian Vanadium, REZ and more

Staff reporter

Australian Vanadium has announced a A$3.5 million share purchase plan, which will be underwritten by Patersons Securities.

New shares will be issued at 1.15c, an 18.8% discount to the volume-weighted average price of shares.

The proceeds will be used for development and working capital.

Gold explorer Resources & Energy Group (REZ) has completed an oversubscribed placement to raise $3 million.

The offer, conducted at 4c per share, was supported by four new broking firms.

Kingston Resources has raised $3.1 million via the placement of the entire shortfall from a May raising.

The company will use the cash to accelerate drilling at the Misima gold project in Papua New Guinea, adding a second rig.

Rafaella Resources has completed a $2.8 million capital raising in connection with the acquisition of the Santa Comba tungsten project in Spain.

The company sought to raise $2.6 million but upsized the offer due to high demand.

Transamine Trading will cornerstone the raising with a $1 million investment, followed by a further $500,000 if and when a positive feasibility study and financing is completed.

Gateway Mining is in a trading halt while it rattles the tin for $2.44 million for Gidgee gold drilling.

According to a term sheet, the raising is being conducted in two tranches at 1.5c per share by JP Equity Partners.

Graphite player BlackEarth Minerals has secured commitments to raise $1.68 million via Peloton Capital.

The fresh funding will be used to fast-track projects in Madagascar.

Volt Resources' share purchase plan has closed oversubscribed, raising just under $1.3 million.

A further $350,000 was raised via a top-up placement, of which Volt chairman Asimwe Kabunga subscribed for $100,000.

The funds will be used to repay outstanding loan notes due next month.

Finally, RMG has raised $195,000 of working capital by issuing 15 million 1.3c shares to an overseas investor.