Capital Watch: Allegiance, Godolphin and more

CAPITAL raisings have slowed down dramatically in November.
Capital Watch: Allegiance, Godolphin and more Capital Watch: Allegiance, Godolphin and more Capital Watch: Allegiance, Godolphin and more Capital Watch: Allegiance, Godolphin and more Capital Watch: Allegiance, Godolphin and more

Staff reporter

Allegiance Coal has completed a A$7.5 million private placement at 5c per share, a 7.4% discount to the previous close.

Petra Capital was lead manager.

The proceeds will be used to advance the New Elk and Tenas projects.

Godolphin Resources has received firm commitments to raise $3.5 million, lead managed by Euroz Hartleys.

The placement was conducted in two tranches at 24c per share, a 16.4% discount to the five-day volume-weighted average price.

The proceeds will be used to advance exploration in New South Wales' Lachlan Fold Belt.

RareX has raised $3 million in a strongly supported placement to advance its Cummins Range project.

Canaccord Genuity was lead manager for the 10c per share placement.

Bowen Coking Coal has announced a $3 million placement at 5c per share to accelerate its Broadmeadow East development.

Petra Capital was sole lead manager and bookrunner.

Trek Metals has withdrawn its fully underwritten $2.9 million rights issue due to market conditions.

The company said it remained well-funded with about $2.35 million cash.

Sandfire Resources has exercised 32.15 million options in Auris Minerals, netting the junior $2.57 million.

Auris is expecting to receive a further $10.3 million by the end of the month from the exercise of options.

Explorer Hannans has launched a placement and SPP to raise up to $1.5 million at a 20% discount to market price.

Major shareholder Neometals has agreed to subscribe for $365,000 worth of shares, while the company will seek to raise the rest via an SPP.

Castle Minerals has increased the size of its $1 million share purchase plan to $1.45 million after receiving strong demand.

The funds will be used to advance gold projects in Western Australia.

Gold explorer Great Southern Mining has received $300,000 via the exercise of options by executive chairman John Terpu.

Finally, Terrain Minerals has received $117,000 via the exercise of options by director Justin Virgin.