Capital Watch: Santana, American Pacific and more

CAPITAL raisings from the junior mining space this week.
Capital Watch: Santana, American Pacific and more Capital Watch: Santana, American Pacific and more Capital Watch: Santana, American Pacific and more Capital Watch: Santana, American Pacific and more Capital Watch: Santana, American Pacific and more

Staff reporter

Santana Minerals has completed a $4 million capital raising in connection with its acquisition of three projects from Mekong Minerals.

The issue was approved by shareholders at a meeting last month.

American Pacific Borates has raised $2.75 million in a placement to three global institutions.

The placement price of 25c represented a modest 4% discount to the 10-day volume-weighted average price, and every six shares will come with five unlisted options with a strike price of 30c.

The funds will be used to pay for long-lead items for the Fort Cady project in California.

Rare earths-focused Broken Hill Prospecting is seeking to raise up to $2.49 million via a renounceable pro-rata offer at 1.5c per share.

The funds raised to be used to advance the La Paz rare earth project in Arizona.

Cyprium Metals has launched a capital raising of 11 million shares at 21c per share to raise $2.3 million for the Cue copper project.

The placement will be made to sophisticated and institutional clients of Ashanti Capital.

MinRex Resources is raising $1.95 million via a $1 million loan note issue and $958,777 non-renounceable entitlement issue.

The funds will be used for Western Australian exploration.

Developer Orion Minerals has closed its share purchase plan, raising $1.75 million and taking the total amount raised to $9.5 million.

The proceeds will be used to complete optimisation studies at the Prieska zinc-copper project in South Africa.

Hammer Metals has completed a $1.5 million capital raising to sophisticated investors.

Discovery Capital Partners acted as lead manager.

Cassini Resources has raised $820,750 via the exercise of unlisted options held by directors and management.

The option exercise included $234,000 from managing director Richard Bevan, $221,000 from chief operating officer Greg Miles, $134,000 from chairman Mike Young and $67,000 each from directors Dr Jon Hronsky and Phil Warren.

Lodestar Minerals has raised $800,000 for its Camel Bills project in Western Australia.

New farm-in partner Vango Mining invested $600,000, while the balance went to clients of Mac Equity Partners.

West Africa-focused Mako Gold has received commitments for a $680,000 placement to support drilling at Napie.

The 7c placement price represents a 9% discount to the last price, and every five shares will come with a 10c option.

Finally, Gulf Manganese Corporation has raised $160,000 via a controlled placement agreement with Acuity Capital.

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