Capital Watch: Nex, GWR and more

THIS week's capital raisings in the small-cap exploration space.
Capital Watch: Nex, GWR and more Capital Watch: Nex, GWR and more Capital Watch: Nex, GWR and more Capital Watch: Nex, GWR and more Capital Watch: Nex, GWR and more

Staff reporter

Nex Metals Exploration has launched a share purchase plan to raise up to A$4.26 million.

Shareholders will be able to subscribe for shares at 5.9c each, a 10% discount to the five-day volume-weighted average price.

The proceeds will be used to advance the Kookynie gold project and for working capital.

GWR Group has raised $3.3 million in a placement to fund direct shipping ore iron ore production from the Wiluna West project.

Every four 18c shares will come with a free listed 40c option, exercisable within two years.

GTT Ventures was lead manager.

New Age Exploration has raised $2.18 million after securing additional gold tenements in the Pilbara.

Candour Advisory was lead manager to the 0.8c per share offer.

Directors have committed up to $616,000.

Musgrave explorer PepinNini Minerals has launched a two-for-three entitlement issue to raise up to $1.58 million.

Every four new 13c shares will come with three 25c options.

The offer is underwritten to $900,000 by Pendragon Capital.

First Au has received commitments to raise up to $1.55 million to existing and new sophisticated and professional investors.

New shares to be issued, at 1.5c each, represent 25% of the company's existing issued capital.

The proceeds will be used for exploration at the Gimlet project in Western Australia and the Haunted Stream gold project in Victoria.

Graphite explorer BlackEarth Minerals has raised $1.4 million via a placement that was oversubscribed by more than 50%.

MacMillan Capital was lead broker to the offer of 28.4 million shares at 5c each, a 9.2% discount to the five-day VWAP.

Emu has agreed to place 33.3 million shares to investors to raise roughly $1 million.

The raising will fund the acquisition of projects in Western Australia and exploration.

Gold explorer Middle Island Resources has utilised a controlled placement agreement with Acuity Capital to raise $800,000.

The issue price of 2.1c per share represents a 22% premium to the 15-day VWAP and a 31% premium to the last closing price.

Finally, Orion Minerals has raised $350,000 in a private placement to a South African investor to fund the restart of exploration.