Capital Watch: Kin, Element 25 and more

A QUIETER week for capital raisings, but some still managed to get deals over the line.
Capital Watch: Kin, Element 25 and more Capital Watch: Kin, Element 25 and more Capital Watch: Kin, Element 25 and more Capital Watch: Kin, Element 25 and more Capital Watch: Kin, Element 25 and more

Image by Pete Linforth from Pixabay

Staff reporter

Gold explorer Kin Mining has raised $2.64 million in a placement to its four major shareholders.

The issue was completed at 4.5c, a 9.8% premium to Kin's last traded price before the announcement.

The funds will be used for a phase two drilling program at the Cardinia gold project near Leonora in Western Australia.

Manganese developer Element 25 has entered into a controlled placement agreement with Acuity Capital for up to $2 million of standby equity capital over 23 months.

Use of the placement facility is at Element 25's discretion.

Kazakhstan Potash Corporation ha signed terms sheets for two convertible note agreements totalling $10 million: one with CWSI for $6.5 million and another for $3.5 million with Harvest Leader International.
 
The funds will be used for liabilities and payments associated with its the Kazakhstan projects.

PNX Metals has received $1.1 million via the exercise of options by a substantial shareholder.

The options were exercised at 1.5c, a premium to the company's share price.

The company raised an additional $500,000 at 1.5c in a placement to sophisticated investors to fund work at the Fountain Head gold project.

Oro Verde has withdrawn its $500,000 share purchase plan due to market conditions.

The company recently raised $1.15 million in a placement to fund work at the Makuutu rare earths project.

Golden Rim Resources has received commitments from investors and directors to raise $457,000 at 0.6c, a 21% discount to the 15-day VWAP.

The funds will be used to advance the Kouri gold project in Burkina Faso.