Capital Watch: Lotus, Sabre and more

THERE was a big pick-up in capital raisings this week.
Capital Watch: Lotus, Sabre and more Capital Watch: Lotus, Sabre and more Capital Watch: Lotus, Sabre and more Capital Watch: Lotus, Sabre and more Capital Watch: Lotus, Sabre and more

Staff reporter

Uranium developer Lotus Resources has received binding commitments to place 62.5 million shares at A8c each to raise $5 million.

Directors subscribed for 1.4 million shares, subject to shareholder approval.

BW Equities was lead manager.

The funds will be used for the Kayelekera restart study.

Peak Asset Management has raised $4.8 million for Sabre Resources in two tranches.

Every 1.15c shares will come with a 0.8c, September 2022 option.

Iron ore developer Strike Resources has completed a $4 million placement lead managed by Canaccord Genuity.

The 10c per share offer was oversubscribed and scaled back.

The company is developing the Paulsens East iron ore project in the Pilbara.

London-listed Alien Metals has raised £2.5 million in an oversubscribed placement.

The proceeds will be used for silver exploration in Mexico and Western Australia, as well as iron ore drilling in WA.

Copper explorer Caravel Minerals has received firm commitments to raise $2.85 million at 8c per share.

Director Alasdair Cooke will subscribe for $100,000, subject to shareholder approval.

Bridge Street Capital Partners and Chieftain Securities were joint lead managers.

Petratherm has received commitments to raise $2.16 million for drilling in South Australia.

Taylor Collison is sole lead manager to the placement, which is being conducted at 14c per share, a 13.5% discount to the 15-day volume-weighted average price.

Province Resources is raising $2.1 million to advance its Pascalle gold and Gnama nickel projects in Western Australia.

Vert Capital has been mandated for a $599,000 placement, while the company will also undertake a one-for-three pro-rata non-renounceable rights entitlement offer, both to be priced at 0.8c.

Pelican Resources (soon to be renamed Sunshine Gold) has raised just over $2 million as part of its acquisition of XXXX Gold.

The funds were raised via an entitlement offer and broker offer.

Southern Hemisphere Mining has launched a one-for-two renounceable rights issue at 2.5c per share to raise about $2 million.

Chairman Mark Stowell will take up his entitlement and underwrite the offer for collectively $200,000.

The proceeds will be used to advance projects in Chile.

Alara Resources has placed 70.5 million shares to Al Tasnim Infrastructure to raise $1.9 million.

Al Tasnim, a shareholder in Alara's joint venture company, will hold 10% of Alara.

Kogi Iron has raised $1.42 million via a private placement at 2c per share.

The company will use the funds to pay its annual license fees and progress its iron project in Nigeria.

Audalia Resources is planning to place $400,000 worth of shares to a sophisticated investor for the Medcalf project.

The directors of FYI Resources have exercised their options to raise $238,500.

Finally, the exercise of options has brought in $147,420 for Terrain Minerals.