Capital Watch: Kogi, Dreadnought and more

KOGI leads the raisings in a quiet week.
Capital Watch: Kogi, Dreadnought and more Capital Watch: Kogi, Dreadnought and more Capital Watch: Kogi, Dreadnought and more Capital Watch: Kogi, Dreadnought and more Capital Watch: Kogi, Dreadnought and more

Staff reporter

Nigeria-focused Kogi Iron is seeking to raise $4.35 million for its Agbaja project.

The offer comprises a $2.35 million placement to an institutional investor, Sorbie Capital, and various professional and sophisticated investors, and a $2 million share purchase plan.

The issue price is 3.52c.

Dreadnought Resources has raised $1.7 million for VMS drilling in a heavily oversubscribed placement.

The issue was priced at 0.63c, with directors to seek approval to invest $170,000.

Ora Gold has been forced to pull its planned $2 million SPP after failing to lodge a required cleansing notice with the ASX.

The company said it would keep the market informed of its capital raising plans.

Graphite developer Volt Resources has launched a one-for-12.9 non-renounceable rights issue at 1c to raise $1.25 million to fund approvals for Dar es Salaam and Mauritius note issues.

Chairman Asimwe Kabunga will underwrite up to $600,000 of any shortfall.

Middle Island Resources is undertaking a $1.04 million placement in two tranches to fund work at the Sandstone gold project.

The 0.4c placement is being cornerstoned by Stephen Copulos.

Helix Resources has received binding commitments for a $1 million placement to advance its Cobar assets.

Morgans Corporate was lead manager to the placement, which was conducted at 1.6c per share, a 10% discount to the previous close.

Nagambie Resources has raised $663,000 in a share purchase plan and placement.

The proceeds will be used for exploration in Victoria.

Graphite explorer Comet Resources has received commitments to raise $562,500 via a private placement to sophisticated investors.

The company will issue 22.5 million 2.5c shares and 22.5 million options.

Aura Energy has secured $350,000 in a follow-on convertible security note under an agreement signed with Lind Global Macro Fund LP in April.

The funds will be used for working capital.