Capital Watch: Inca, Ardea and more

LEADING this week’s capital raisings are plus-A$5 million offers from Inca and Ardea.
Capital Watch: Inca, Ardea and more Capital Watch: Inca, Ardea and more Capital Watch: Inca, Ardea and more Capital Watch: Inca, Ardea and more Capital Watch: Inca, Ardea and more

Staff reporter

Inca Minerals has launched a two-for-three renounceable rights issue to raise about A$7.5 million at 5.5c, an 8.3% discount to the last traded price.

Every three shares will come with two listed 9c and 20c options.

Mahe Capital is lead manager.

The company will use the funds to drill its Riqueza project in Peru.

Ardea Resources has raised $3.5 million in a 47c per share upsized placement and will seek to raise a further $2.5 million via a share purchase plan.

MST Financial and amicaa acted as joint lead managers.

The company will have more than $12 million on completion to advance its Goldfields gold and nickel projects.

Graphite developer Renascor Resources has received firm commitments for a placement to raise $3.6 million, lead managed by 180 markets.

Up to 324.8 million 1.1c shares will be issued, with a 2c option to be issued for every two shares.

The funds will be used for the Siviour graphite project and Carnding gold project, both in South Australia.

Sulphate of potash explorer Trigg Mining has launched a seven-for-two renounceable rights issue to raise up to $2.3 million.

The offer is priced at 14c per share, a 46% discount to the 10-day volume-weighted average price.

One 25c option will be issued for every two shares.

Sipa Resources has received firm commitments via a heavily oversubscribed share placement to raise approximately $2.3 million at 7.2c per share, a 17.5% discount to the five-day VWAP.

Fresh Equities supported the offer with a cornerstone bid.

The proceeds will be used for the completion of the company's planned field programs for the remainder of the current financial year.

Tin explorer Stellar Resources has raised $300,000 in a placement and will raise a further $1.87 million in an underwritten non-renounceable entitlement offer.

Taylor Collison is lead manager and underwriter, with Stellar directors acting as sub-underwriters up to $120,000.

The funds will be used to advance tin projects, as well as for gold exploration.

Jindalee Resources is raising $1.85 million for its McDermitt lithium project and Widgiemooltha gold-nickel project.

The raising comprises a $1.23 million placement and $620,000 one-for-20 non-renounceable pro-rata entitlement offer at 32c, a 26.9% discount to the five-day volume-weighted average price.

Dual-listed Thor Mining has raised £1.06 million (A$1.87 million) at 0.6p per share.

It includes a £323,000 investment by Metal Tiger, Artemis Resources, SI Capital and company directors.

The funds will be used to explore the Ragged Range gold and nickel project in the Pilbara.

New South Wales explorer Ausmon Resources has announced a placement to raise A$300,000 and an SPP to raise up to $411,660.

The shares are being issued at 0.75c each, a 22.4% discount to the five-day VWAP.

Mineral sands explorer MRG Metals has raised $660,000 in a placement of 110 million 0.6c shares and 110 million 1c options.

The placement will allow the company to expand drilling at the Corridor projects in Mozambique.

Finally, Paterson Resources has received commitments to raise $500,000 at 0.35c per share, with a one-for-one free-attaching 0.7c option.

The proceeds will be used for exploration in Western Australia and New South Wales.