CAPITAL MARKETS

Capital Watch: South Harz, Iron Road and more

A BUSY week for capital raisings in the lead-up to Christmas.

Staff reporter
Capital Watch: South Harz, Iron Road and more

South Harz Potash has raised $5.3 million in an oversubscribed placement for its Ohmgebirge project in Germany.

New shares were issued at 12c, a 12% discount to the five-day volume-weighted average price.

Directors will subscribe for $261,000 worth of shares, subject to shareholder approval.

Morgans Corporate acted as lead manager, with Cenkos Securities as joint bookrunner.

Iron Road is raising up to $5.17 million in a placement to US institution Bulk Commodity Holdings in three investments.

Each investment will be made via a pre-payment of shares within the next 10 months.

The funds will allow Iron Road to continue its search for a project partner.

Suspended Ark Mines has raised $4.7 million.

The company is looking to relist on the ASX.

PepiniNini Minerals has completed a $3.7 million placement to advance its kaolin-halloysite and lithium projects.

GBA Capital was lead manager.

Shares will be issued at 38c each, a 15% discount to the 10-day VWAP.

China's Yahua International Investment and Development Co has invested $3.6 million in EV Resources (formerly Jadar Resources).

The funds will be used to advance lithium projects.

The pair also have a memorandum of understanding to cooperate on lithium projects.

MinRex Resources has raised $3 million in an oversubscribed placement managed by Canaccord Genuity.

Shares were issued at 3.2c, a 13.5% discount to the previous close.

Funds will be used to fast-track lithium exploration in the Pilbara.

Thor Mining has raised $2.75 million to advance exploration in the Pilbara.

Every three 1.25c placement shares will come with two options.

PAC Partners and DealAccess were joint lead managers.

David Flanagan's Battery Minerals has raised $2.7 million to fund exploration in WA and Victoria.

Shares are being placed in one tranche at 1.1c to new and existing investors.

Horseshoe Metals has launched a one-for-four non-renounceable entitlement offer at 2c per share to raise up to $2.2 million.

If successful, the raising will satisfy the ASX's requirements for reinstatement to trading.

Gold explorer Magnetic Resources has raised $1.66 million from the exercise of options by directors.

The company is advancing the Lady Julie and Hawks Nest 9 deposits at Laverton.

Great Southern Mining has raised $1.6 million in an oversubscribed placement to accelerate gold exploration in Western Australia and Queensland.

Shaw and Partners was lead manager to the 6c per share offer, with every two shares to come with a free listed option.

US-focused PolarX has received firm commitments to raise $1.4 million at 3.2c per share.

The placement will fund work in Alaska and Nevada.

Cyclone Metals is undertaking a $1 million placement at 0.45c per share, a 12.5% premium.

Subscribers will also receive one 0.5c option for evert share.

Northern Territory explorer Tennant Minerals has completed a placement of 50 million shares at 2c per share to raise $1 million, including 25 million options.

The funds will be used for the Barkly copper-gold project.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining News Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining News Intelligence team.

editions

MiningNews.net Research Report 2024

Access a multi-pronged tool to identify critical risks and opportunities in Australia’s mining industry.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.

editions

Mining Journal Intelligence Mining Equities Report 2023

Access an exclusive, inside look on the quarterly mining IPOs and secondary raisings data and mining equities performance tables with an annual Stock Exchange Comparisons supplement.

editions

Mining Journal Intelligence World Risk Report 2023 (feat. MineHutte ratings)

A detailed analysis of mining investment risks across 121 jurisdictions globally, built on 11 ‘hard risk’ metrics and an industrywide survey.