Capital Watch: Strickland, BlackEarth and more

THE return to a five-day week saw a big lift in capital raisings.
Capital Watch: Strickland, BlackEarth and more Capital Watch: Strickland, BlackEarth and more Capital Watch: Strickland, BlackEarth and more Capital Watch: Strickland, BlackEarth and more Capital Watch: Strickland, BlackEarth and more

Staff reporter

Strickland Metals has launched a two-for-three non-renounceable pro-rata entitlement offer to raise $5.05 million.

The offer is underwritten by Enrizen Capital.

Every two new 1.8c shares subscribed for will come with a 3.6c, three-year option.

The funds will be used for exploration, potential acquisitions and for working capital.

Graphite explorer BlackEarth Minerals has completed a bookbuild for a $4.89 million placement at 15.5c per share.

Argonaut Securities was lead manager to the placement, which was heavily oversubscribed.

The proceeds will be used to advance the company's projects in Madagascar.

Tungsten-tin developer Rafaella Resources has completed an oversubscribed private placement to raise $4.25 million.

Vert Capital acted as lead manager to the oversubscribed 10.5c per share offer.

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

Viking Mines has received firm commitments to raise $4 million via an oversubscribed placement, priced at 3.6c that was managed by GTT Ventures.
 
The cash will be used for drilling at the First Hit gold project in WA.
 
Nagambie Resources has issued $3.5 million worth of Series 9 convertible notes, and has redeemed $600,000 worth of Series 5 notes.

The other proceeds will be used to acquire a farm next to the Nagambie mine, diamond drilling and for working capital.

Dreadnought Resources' Kimberley exploration programs are now fully funded following an oversubscribed placement to raise $3 million.

The company will also launch a share purchase plan to raise another $500,000.

Shaw and Partners was lead manager to the 1.8c per share offer.

Canada-listed Inflection Resources is undertaking a private placement of 9.37 million units at C32c each to raise $3 million.

Each unit comprises a share and half a warrant, with each warrant exercisable at 50c within two years.

The proceeds will be used for further drilling in northern New South Wales, the Carron project in Queensland and for general working capital.

Cobalt-turned-gold explorer Twenty Seven Co has announced a one-for-four renounceable rights issue to raise $2.65 million for further exploration.

New shares are priced at 0.5c each, a 17% discount to the last close, with every two shares to come with a 0.9c option.

Mahe Capital is underwriting the offer to $1.5 million.

Woomera Mining is raising $2.5 million via a two-tranche placement and SPP, priced at 1.7c per share.

Every two shares will come with a 3.5c option, exercisable by May 2024.

The company will use the funds to explore its Mt Venn project in Western Australia.

Maximus Resources has raised $1.5 million in a placement which was strongly supported by major shareholders.

The 8c per share offer, lead managed by GTT Ventures, includes a one-for-three 11c option.

The funds will be used for nickel and gold drilling.

Finally, Citigold Corporation placed $756,417 worth of shares to a sophisticated investor.