Capital Watch: Venus, VRX and more

VENUS and VRX lead this week's raisings, securing at least A$4 million each.
Capital Watch: Venus, VRX and more Capital Watch: Venus, VRX and more Capital Watch: Venus, VRX and more Capital Watch: Venus, VRX and more Capital Watch: Venus, VRX and more

Staff reporter

Ord Minnett has agreed to underwrite Venus Metals Corporation's listed options up to $5.7 million.

The company has 57 million 20c options expiring at the end of this month.

Ord Minnett has appointed major shareholder Christopher Wallin and Bruce Mathieson to act as sub-underwriters.

VRX Silica has received commitments to raise $4 million for its Arrowsmith and Muchea silica sand projects.

Hartleys was lead manager to the placement, which was conducted at 11.5c per share.

Every two new shares will come with an 18c, 18-month option.

Diatreme Resources has raised $3.6 million to a new cornerstone investor, Ilwella, and new and existing sophisticated investors to fund the Galalar silica project in Queensland.

Shares were issued at 1c each, equal to the last closing price.

Hartleys acted as lead manager.

Brisbane-based IronRidge Resources has raised £2 million (A$3.7 million) through a placement arranged by SI Capital.

The company will primarily utilise these funds towards the development of its gold and lithium projects in Côte d'Ivoire, Ghana and Chad.

Archer Materials has launched a share purchase plan to raise up to $3 million for its advanced materials and mineral exploration businesses.

Shareholders can subscribe for up to $30,000 worth of shares at 13c each, a 10.3% discount to the previous close.

Empire Resources has lodged a prospectus for a 0.8c two-for-five non-renounceable pro-rata rights issue to raise up to $1.98 million.

Panthea Capital Partners is underwriting up to $712,000.

Taruga Resources is raising $211,750 in a placement to investors introduced by Ashanti Capital and Shaw and Partners.

It then plans to launch an underwritten entitlement offer to raise a further $1.62 million.

Minotaur Exploration has raised $1.5 million in a placement to professional and sophisticated investors in two tranches.

The offer, lead managed by Taylor Collison, was priced at 5c per share, a 9% discount to the last close.

Malawi-focused Force Commodities has received commitments to raise $750,000 in a placement.

Every two new 1.5c shares will come with a 2c option.

Enterprise Metals has launched a one-for-eight non-renounceable entitlements offer to raise up to $501,000 for potash exploration and the search for a gold project.

Every two new 1c shares will come with a June 2021 1.5c option.

Lindian Resources has received commitments to raise $500,000 in a conditional strategic placement.

The placement is conditional on shareholder approval of the acquisition of the Gaoual bauxite project in Guinea and the refreshment of the company's placement capacity.

Finally, Pacific American Holdings has completed a $450,000 placement to fund its Elko coal project and GP Hydro power business.