Capital Watch: Walkabout, Ardea and more

A REASONABLY busy week for capital raisings.
Capital Watch: Walkabout, Ardea and more Capital Watch: Walkabout, Ardea and more Capital Watch: Walkabout, Ardea and more Capital Watch: Walkabout, Ardea and more Capital Watch: Walkabout, Ardea and more

Staff reporter

Walkabout Resources has agreed to place up to US$10 million worth of shares to US institution Battery Metals Capital Group.

An initial placement will raise up to $6 million in two tranches, with a further $4 million available within 10 months at Walkabout's election.

The company said the funds would provide risk cover for its start-up of the Lindi Jumbo graphite mine in Tanzania.

Ardea Resources has received commitments to raise $5.7 million at 55c per share, a premium to its previous close of 53.5c.

Petra Capital was lead manager and bookrunner.

The proceeds will be used to advance the Kalgoorlie nickel project.

Sayona Mining has further utilised its 2019 controlled placement agreement with Acuity Capital to raise $5.8 million at 6c, a 1.4% discount, now it has secured the North American Lithium assets in Canada.

Odyssey Gold has withdrawn a share purchase plan to raise up to $5 million, announced in late May.

The company's share price is currently trading below the 12.5c offer price.

All SPP funds will be refunded.

Resources investor DGR Global has completed a strategic placement to raise $3 million.

The 5.2c per share placement was made to three separate parties and includes attaching options on a 3:8 basis.

Moneghetti Minerals has closed its pre-IPO seed round fully subscribed.

The gold explorer raised $2 million at 19c per share from offshore private investors, funds and existing shareholders. 

The company, which has an all-female board and management team, plans to file a prospectus for an ASX listing next month.

Zinc of Ireland has finalised firm commitments for a $1.8 million placement at 5c per share, a 19.7% discount, with Canada's Dundee Goodman Merchant Partners and Germany's Delphi agreeing to support the raising, which was managed by GTT Ventures.

About half of the funds after costs will be focused on its new project in Western Australia.

Los Cerros has received $1.25 million from the early exercise of options by major shareholder Dr Minlu Fu.

Mount Ridley Mines has received commitments from professional investors to raise $981,138 at 0.15c per share.

RM Capital acted as lead manager, with proceeds to be used to advance the Mount Ridley project.