Capital Watch: Dateline, Nelson and more

A quieter week for raisings in the exploration space.
Capital Watch: Dateline, Nelson and more Capital Watch: Dateline, Nelson and more Capital Watch: Dateline, Nelson and more Capital Watch: Dateline, Nelson and more Capital Watch: Dateline, Nelson and more

Staff reporter

Colorado-focused Dateline Resources has raised A$4.1 million via a placement to institutional and sophisticated investors at 9c per share.

Managing director Stephen Baghdadi and director Tony Ferguson will subscribe for $208,000 and $100,000, respectively, subject to shareholder approval.

PAC Partners managed the raising.

The funds will be used for the Gold Links and Colosseum gold projects.

Gold explorer Nelson Resources has launched a two-for-seven renounceable rights issue to raise up to $2 million.

The issue is priced at 4.7c per share, a 20% discount to the 10-day volume-weighted average price, and every two new shares will come with a free 8c option.

Directors will participate for their full entitlement and sub-underwrite a portion of any shortfall.

Kula Gold has received firm commitments to raise $1.8 million via a single tranche placement at 5c per share.

Foster Stockbroking was lead manager.

The funds will be used for exploration on kaolin and gold projects in Western Australia.

Rare earths explorer Red Mountain Mining has received $791,914 from the exercise of 0.8c options.

Just under 99 million options were exercised, while 39.6 million expired unexercised.