Capital Watch: St George, Great Southern and more

ST George, Great Southern and Fraser Range Metals all raising more than A$3 million.
Capital Watch: St George, Great Southern and more Capital Watch: St George, Great Southern and more Capital Watch: St George, Great Southern and more Capital Watch: St George, Great Southern and more Capital Watch: St George, Great Southern and more

Staff reporter

Nickel explorer St George Mining has raised $3.6 million via a strongly supported placement.

The 8c offer was oversubscribed.

The company is considering a separate offer to shareholders to raise another $1.6 million at the same price.

Great Southern Mining has received firm commitments for a $3.15 million placement to fund "aggressive" exploration at Cox's Find.

Shaw and Partners was lead manager to the placement, which was conducted at 4.5c per share, with a free 6c option to be issued for every four shares.

Fraser Range Metals Group has completed an oversubscribed placement in two tranches to raise $2.75 million and will launch a share purchase plan to raise $750,000.

The issue price is 2.5c per share, a 9.3% discount to the five-day volume-weighted average price.

The proceeds will be used for the Mt Adrah gold project in New South Wales.

3D Resources has received firm commitments to raise $2.1 million to complete the acquisition of the Adelong gold project.

The placement, managed by Baker Young Stockbrokers, was heavily oversubscribed.

The company issued 1.7 billion shares at 0.125c per share.

Oakdale Resources has launched a one-for-one non-renounceable entitlement offer at 0.2c per share to raise up to $1.4 million.

The company will issue up to 701 million new shares, doubling its shares on issue, as well as 350.5 million options as part of a free option for every two new shares subscribed for.

The funds will be applied to projects in Peru.

US-focused Anson Resources has received commitments for a $600,000 placement to sophisticated investors for the Paradox brine project in Utah.

The issue price is 1.2c per share, with each share to come with a three-year 3.5c option.

Pure Minerals has raised $320,000 in a private placement to a single investor, Kwong Ho Richard Chan.

The proceeds will be used to advance the Townsville energy chemicals hub project.

Altech Chemicals has raised $300,000 via a controlled placement agreement with Acuity Capital.

Finally, Discovery Africa will undertake a private placement to raise $126,832.