Capital Watch: DGR, Prospect and more

THIS week's capital raisings in the junior mining space.
Capital Watch: DGR, Prospect and more Capital Watch: DGR, Prospect and more Capital Watch: DGR, Prospect and more Capital Watch: DGR, Prospect and more Capital Watch: DGR, Prospect and more

Staff reporter

Resource company incubator DGR Global is raising A$10.2 million at 8c under an accelerated entitlement offer that is fully underwritten by Bizzell Capital Partners, and sub-underwritten by DGR director Nick Mather's Samuel Holdings for $1.9 million.

An additional offer for third party investors for a further $6 million is not underwritten, but DGR said it has secured firm commitments for the whole amount.

Prospect Resources has completed a A$6 million placement, reporting strong demand from institutional investors for the 13c per share offer.

The capital will be used to develop a pilot plant to produce low iron spodumene and high purity petalite samples for prospective customers, and for front-end engineering design work for the Arcadia lithium project in Zimbabwe.

To support its move into gold and lithium exploration in Western Australia's Pilbara, and to support its European projects, Raiden Resources has reported binding commitments from sophisticated investors to raise $3 million at 1.3c.

Galan Lithium has also secured commitments from institutional and sophisticated investors received for an over-bid private placement of $3 million at 13c, including continued support by Luxembourg's green energy fund, Thematica Future Mobility.

The cash will be used to support studies on the Hombre Muerto West project in Argentina.

Argonaut Securities was lead manager, with Barclay Wells as co-lead manager.

Krakatoa Resources has raised $2.1 million via a placement at 8.5c to fund its gold projects in New South Wales' Lachlan Fold Belt and at Mt Clere in WA.

Argonaut Resources has elected to expand a recent $1.2 million share purchase plan to $2.5 million after receiving applications sufficient for $3.3 million. Shareholders will be scaled back.

It follows a $2.7 million placement earlier this month. The cash will be used for drilling at Murdie in South Australia and for a study of the Nyungu copper-cobalt deposit in Zambia.

Trigg Mining has closed recent $2.3 million renounceable rights issue, expanding it to $3.1 million to accommodate excess demand from new and existing investors.

It will fund drilling at the Lake Throssell and Lake Rason potash projects in WA.

Paterson Resources has elected to take oversubscriptions of almost $260,000, increasing its recent capital raising to $2.25 million.

The former Cape Lambert Resources, now known as Cyclone Metals, has completed an oversubscribed $2 million placement.

Pursuit Minerals has mandated CPS Capital to raise $2 million via a placement and fully underwritten entitlements offer, with the raising sub-underwritten by chairman Peter Wall and CEO Mark Freeman.

WA gold explorer Castle Minerals has closed an oversubscribed placement at 1c to raise $1 million, and has opened a $1 million share purchase plan

Despite the loss of an advanced gold project in Zambia, Volt Resources has been able to raise $1.56 million, including $500,000 from chairman Asimwe Kabunga, to advance work ats Guinean gold and Tanzanian graphite interests.

Anglo Australian Resources' share purchase plan, offered following a recent $11 million placement, has raised $854,000 the $3 million sought.

Mt Ridley Mines is raising $603,000 at 0.15c to support its move into WA iron ore at Weld Range West.

Following a recent $4.64 million placement, Diatreme Resources has opened a share purchase plan on the same terms, 1c per share, for a further $500,000 to support its Galalar silica project in Queensland.

Off the back of recent a drilling success at Carr Boyd, Estrella Resources' major shareholder Jason Peterson of CPS Capital Group has exercised 20 million 2c options, putting $400,000 into the junior's treasury. The explorer says other major shareholders intend to do the same.

Finally, Horseshoe Metals has raised $284,000.