Capital Watch: Hawkstone, REZ and more

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

Staff reporter

US-focused Hawkstone Mining has raised A$3.5 million in a strongly supported placement to fund exploration in Idaho and Arizona.

The placement, lead managed by PAC Partners, had an issue price of 1.2c per share, a slight discount to the last closing price of 1.4c.

Every three shares will come with two free unquoted options, exercisable at 2c each within two years.

Resources & Energy Group has raised $3.3 million to advance its East Menzies and Mount Mackenzie gold projects.

The company will issue 44 million shares at 7.5c each, with an attaching one-for-four option, exercisable at 20c.

Sultan Resources has raised $2.4 million in a placement to fund exploration in New South Wales and Western Australia.

The company placed 10.9 million shares at 22c each, a 4.8% discount to the 15-day volume-weighted average price.

Xcel Capital and ARQ Capital were joint lead managers.

Vanadium explorer Protean Energy is raising nearly $2 million via a placement and rights issue.

The company placed 64.2 million shares to clients of CPS Capital Group to raise $385,000, and will undertake a three-for-four rights issue to raise $1.61 million, underwritten by CPS.

The issue price for both offers is 0.6c per share.

Cauldron Energy has raised $1.6 million in a 3.1c per share placement lead managed by SixtyTwo Capital.

The funds will be used to fast-track exploration at the Blackwoods gold project in Victoria.

Toro Energy has used a controlled placement agreement with Acuity Capital to raise $1.43 million.

Toro and Acuity have increased the maximum amount of capital available under the facility to $15 million, of which $12.36 million in remaining.

Goldfields explorer Torian Resources has raised $1.2 million to accelerate drilling at the Mt Stirling project.

Nova Minerals contributed $200,000 to take its stake to 13%.

Subject to shareholder approval, directors will contribute a further $250,000.

NewPeak Metals has closed a private placement to raise $900,000 for gold exploration.

The 0.3c per share placement was lead managed by 180 Markets.

Lithium play Sayona Mining has used its controlled placement agreement with Acuity Capital to raise $650,000.

The issue price of 0.95c represents a 2.15% discount to the 15-day VWAP.

PepinNini Minerals has raised $412,500 in a placement of 2.5 million 16.5c shares and a two-for-one 25c option.

Finally, Ardiden has received $250,000 from the exercise of options.