Capital Watch: Blackstone, Toro and more

BLACKSTONE and Toro lead this week's raisings, each seeking up to A$5 million.
Capital Watch: Blackstone, Toro and more Capital Watch: Blackstone, Toro and more Capital Watch: Blackstone, Toro and more Capital Watch: Blackstone, Toro and more Capital Watch: Blackstone, Toro and more

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Staff reporter

Nickel-focused Blackstone Minerals is raising up to $5 million at 15c per share, an 11.8% discount to the five-day volume-weighted average price.

The raising will comprise a placement to raise $4.5 million, as well as a share purchase plan seeking a further $500,000.

The funds will mainly be used to advance the Ta Khoa nickel project in Vietnam.

Toro Energy has launched an SPP to raise $3.5 million for a 4000m drilling program at the Yandal gold project.

The offer is being underwritten by Patersons Securities, which may also facilitate a top-up placement to raise a further $2.5 million.

Allegiance Coal has received binding commitments to raise $3.08 million in a private placement joint lead managed by Bell Potter Securities and Aitken Murray Capital Partners.

The proceeds will be used to advance the New Elk hard coking coal mine in Colorado and the Tenas metallurgical coal project in British Columbia.

Brazil-focused Aguia Resources has raised $2.1 million in a private placement to institutional, sophisticated and professional investors.

Shares were issued at 15c each.

Alice Queen is raising $1.5 million in a placement to Datt Capital, which will make it the company's third-largest shareholder.

Shares are being issued at 3c each, a 10% premium to the previous closing price.

Graphite player Kibaran Resources has raised $1.3 million at 9c per share, a slim 3% discount.

Major shareholder Mitsubishi UFJ Financial Group supported the placement, while a new institution participated.

Subject to shareholder approval, director John Conidi will subscribe for $50,000.

Barra Resources has announced a $1.25 million SPP at 2c per share, a 17% discount to the last trading price.

The funds will be used for the Coolgardie gold project, the Mt Thirsty nickel-cobalt project and for working capital.

Gold explorer Surefire Resources has received commitments to raise $1.15 million at 0.92c per share.

CPS Capital is acting as lead manager and broker.

Golden Deeps will raise $1.05 million through a placement to advance the Abenab vanadium project in Namibia, with chairman Michael Minosora to apply for $75,000.

Henslow acted as lead manager.

Terrain Minerals has raised $250,000 in a placement at 0.35c per share.

Finally, West African explorer Golden Rim Resources has announced a small top-up placement to major shareholder Westward Investments, a member of the Pella Group.

The placement raised $187,750 and allowed Pella to maintain its 7.4% stake.