Capital Watch: ConsZinc, Allegiance and more

RAISINGS slow ahead of the Easter break.
Capital Watch: ConsZinc, Allegiance and more Capital Watch: ConsZinc, Allegiance and more Capital Watch: ConsZinc, Allegiance and more Capital Watch: ConsZinc, Allegiance and more Capital Watch: ConsZinc, Allegiance and more

Staff reporter

Consolidated Zinc said an underwriting agreement with Pinnacle Corporate Finance had been terminated, forcing it to pull its $1.72 million entitlement offer.

Talks with Pinnacle for a replacement agreement are ongoing as the Mexican government has ordered a shutdown of mines until April 30, pending an exemption application.

US-focused Allegiance Coal has received binding commitments for a $1.98 million 6c per share private placement, managed by Bell Potter Securities.

The Latimore Family Trust, associated with Matthew Latimore, managing director of offtake partner M Resources Trading, subscribed for 25% of the placement.

The proceeds will be used for ongoing work at the company's Colorado and British Columbia coal projects.

Rare earths developer Peak Resources has received binding commitments for a placement to raise $1.5 million.

The 1.5c placement was oversubscribed by existing shareholders, who will receive one 3c option for every two new shares issued.

Namibia-focused uranium play Marenica Energy has received binding commitments for a $1 million placement to professional and sophisticated investors, including a $135,000 contribution from directors.

The two-tranche placement will be conducted at 3.8c per share, with a one-for-one 10c option to be issued.

Viriathus Capital and Cumulus Wealth were lead managers.

AIM-listed ECR Minerals has placed 100 million shares of at 0.5p per share for proceeds of £500,000 (A$1 million).

The placement funds will be used for exploration in Victoria.

Predictive Discovery has received strong support for a placement to raise A$612,490 to fund work at its newly acquired projects in Guinea.

The company used the 25% placement capacity, allowed by the ASX due to the COVID-19 pandemic.

Finally, Indiana Resources has raised $250,000 in an oversubscribed placement at 2c per share.

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