CAPITAL MARKETS

Capital Watch: Anova, Australian Mines and more

This week's capital raisings from the junior exploration sector

Staff reporter

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Anova Metals has scrapped a $3.45 million raising at 1c per share in favour of a $3.2 million entitlement offer at 0.7c and $1.7 million placement at 1c.

The placement is to Au Xinghao Investment, which will also advance a further $2 million to refinance an existing loan with Twynam Agricultural Group.

Australian Mines has received firm commitments from a UK institution to raise $1.45 million in a placement managed by Canaccord Genuity.

The issue price was 0.8c per share, with every four shares to come with a 1.5c two-year option.

The funds will be used to produce battery grade nickel sulphate and cobalt sulphate for potential offtake and financing partners, and for working capital.

Gold explorer Maximus Resources has launched a non-renounceable rights issue to raise up to $1.3 million.

Up to 43.5 million shares will be issued at 3c each, with every three shares to come with a 2022 11c option.

The company said the raising will allow it to make significant progress towards transitioning into a gold producer.

Comet Resources has closed a $650,000 placement to complete the acquisition of the Barraba copper project.

Each 1c share issued will come with a 2c option, exercisable by the end of June 2021.

The placement replaces a previously announced $2 million capital raising at 2.5c per share.

Potash player Davenport Resources has raised $424,000 at 5c per share, a 33% premium to the last closing price.

The raising was supported by major shareholders and directors and will include the issue of one 7.5c option for every two shares issued.

Finally, Dart Mining has raised $212,000 in a placement to sophisticated investors at 5c per share.

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