Capital Watch: Barton, Zeotech and more

A handful of companies managed to raise cash over the summer break.
Capital Watch: Barton, Zeotech and more Capital Watch: Barton, Zeotech and more Capital Watch: Barton, Zeotech and more Capital Watch: Barton, Zeotech and more Capital Watch: Barton, Zeotech and more

Staff reporter

Unlisted South Australian gold developer Barton Gold raised $2.4 million via the private placement of convertible notes.

Taylor Collison and Sprott Capital Markets advised on the placement, which was supported by 15 existing shareholders and 27 new investors.

The notes are automatically convertible into shares if Barton launches an initial public offering.

Zeotech has received firm commitments to raise $1.7 million via the issue of 34 million shares at 5c each.

The funds will be used to advance the company's zeolite pilot plant program and fund a $500,000 intellectual property assignment fee to UniQuest.

Rafaella Resources has raised $1.2 million in a non-brokered private placement at 6.6c per share.

The proceeds will be used to advance the Santa Comba tungsten project in Spain and nickel-copper assets in Canada.

European Metals Holdings has signed a funding agreement with 6466 Capital, allowing it to draw down up to $1 million in 12 months.

Any funds drawn down will convert to CHESS depositary interests at a 15% discount to the 10-day volume-weighted average price.

Finally, Mount Ridley Mines has placed 375 million at 0.2c each to raise $750,000 for exploration in Western Australia.

Each share will come with a 0.3c November 2022 option.