Capital Watch: Coziron, Vulcan and more

THIS week's capital raisings in the junior exploration space.
Capital Watch: Coziron, Vulcan and more Capital Watch: Coziron, Vulcan and more Capital Watch: Coziron, Vulcan and more Capital Watch: Coziron, Vulcan and more Capital Watch: Coziron, Vulcan and more

Staff reporter

David Flanagan-chaired Coziron Resources has raised A$5 million at 1.2c per share to accelerate drilling at its Croydon gold project, 50km from De Grey Mining's Hemi discovery.

Bell Potter Securities was lead manager to the placement, which will be conducted in two tranches.

Major shareholder Mark Creasy has agreed to subscribe for $500,000.

Germany-focused Vulcan Energy Resources has received firm commitments to raise $4.8 million in a placement to Australian and European institutional and environmental, social and governance investors.

The placement of 12 million shares at 40c each was heavily oversubscribed.

Merchant Group and Viaticus Capital were joint lead managers.

The funds will be used to advance the prefeasibility study for the Zero Carbon lithium project in the Rhine Valley.

Italy-focused Alta Zinc has received binding commitments to raise $3.6 million, including oversubscriptions of $1.6 million.

The company received bids for more than $4.9 million for the placement, which was joint lead managed by Discovery Capital Partners and Foster Stockbroking.

Major shareholder Victor Smorgan Group will participate, while directors plan to subscribe for $650,000.

The company is aiming to raise a further $500,000 via a share purchase plan at the placement price of 0.4c per share.

Ionic Rare Earths has received commitments to raise $2.5 million in a placement at 0.8c per share for the Makuutu project.

Canaccord Genuity was lead manager with Sixty Two Capital as co-lead.

The company will seek to raise an additional $500,000 via an SPP at the same price.

Amani Gold has received firm commitments to raise $2.55 million in two tranches for drilling at the Giro and Gada projects in the Democratic Republic of Congo.

Each 0.1c share will come with 1.5 options, exercisable at 0.15c within three years.

The raising comes after a $3 million placement to a Hong Kong investor was recently called off.

Castillo Copper has raised $2.1 million in a placement to Australian and UK sophisticated investors to expedite drilling at the Mt Oxide pillar in Queensland.

The company will issue 95.5 million shares at 2.2c each, including a one-for-one 5c option.

Greenvale Energy is proposing to raise $2.1 million via an underwritten pro-rata entitlement offer to fund the acquisition of 80% of Neil Biddle and John Young's Knox Resources.

The company also placed $19,152 worth of shares to Biddle.

South Australia-focused Tasman Resources is raising up to $1.47 million via a one-for-10 non-renounceable pro-rata rights offer priced at 2.8c, with a two-for-one 5c option.

The offer will be underwritten to $500,000.

The funds will be used to drill the Pernatty iron oxide-copper-gold target.

Great Northern Minerals has placed 100 million shares at 1.4c each to raise $1.4 million.

The raising will allow the company to bring forward drilling of the Camel Creek project.

Galan Lithium has raised $1.25 million in a private placement to investors including Luxembourg fund Thematica Future Mobility.

The company raised another $350,000 via a controlled placement deal with Acuity Capital.

Each 14c share will come with a free 25c 2022 option.

Investment firm Delecta is raising $1.25 million via a mandate with CPS Capital Group.

It comes after the company acquired 60% of Colorado-based uranium-vanadium explorer Sunrise Minerals for $150,000.

Lithium Consolidated, soon to be renamed Tempest Minerals, has launched a one-for-two entitlement offer at 1.6c to raise $1.17 million.

RM Corporate Finance has been appointed as lead manager.

The proceeds will be used to explore the Warriedar project in WA.

After raising more than $800,000 last week, Strategic Energy Resources has received firm commitments to raise a further $545,500 to new shareholder Datt Capital and other sophisticated investors.

The funds will be used for upcoming drilling at Saxby and Billa Kalina.

Indiana Resources has received commitments to raise $450,000 via the issue of 15 million shares ar 3c each, a small premium to the 15-day VWAP.

The company is planning to conduct a three-for-four options issue in due course.

Aguia Resources has launched a top-up placement to raise $350,000 after its earlier $2.5 million placement was oversubscribed.

Finally, Hammer Metals has received $110,447 after its chairman Russell Davis exercised 3.6 million options.