Capital Watch: Ironbark, Inca and more

A MUCH quieter week for capital raisings in the junior exploration sector.
Capital Watch: Ironbark, Inca and more Capital Watch: Ironbark, Inca and more Capital Watch: Ironbark, Inca and more Capital Watch: Ironbark, Inca and more Capital Watch: Ironbark, Inca and more

Staff reporter

Ironbark Zinc has completed a strongly supported $3 million capital raising in two tranches.

The 2.4c per share placement was lead managed by Morgans, with Everblu Capital as co-manager and Bacchus Capital Advisers as financial advisor.

The funding will allow Ironbark to get to a final investment decision at the Citronen project in Greenland.

Inca Minerals has completed a strategic placement to sophisticated investors to raise $2.8 million at 10c per share.

The funds will be used to advance the Frewena group IOCG project in the Northern Territory.

Gold explorer Alto Metals has received $2.1 million via the conversion of 30 million listed options at 7c each.

The company now has $7.8 million to advance the Sandstone project.

Junior gold producer Beacon Minerals has raised a further $2.18 million from the exercise of options.

It takes the total raised to $13.76 million with a further 370.8 million options remaining on issue.

Golden Mile Resources has raised $800,000 at 5c per share as part of the acquisition of the Yarrambee project.

Every two new shares will come with a free-attaching 10c option.

Finally, gold explorer DiscovEx Resources has closed its $500,000 share purchase plan early after being "inundated" with subscriptions.

The company will scale back applications.