CAPITAL MARKETS

Capital Watch: Kairos, Laramide and more

THE capital raisings by junior explorers in the first three weeks of the year.

Staff reporter
Capital Watch: Kairos, Laramide and more

Pilbara explorer Kairos Minerals has raised A$7.1 million from the exercise of 285.2 million listed options.

CPS Capital Group was underwriting the options.

Kairos will fast-track exploration for lithium and gold.

Dual-listed uranium explorer Laramide Resources has received C$7.6 million from the exercise of outstanding warrants.

The company now has more than $10 million to advance its exploration plans in 2022.

Gold explorer Aurumin has lodged a prospectus for a non-renounceable entitlement offer to raise up to A$4.96 million.

The one-for-four issue is priced at 20c per share.

Lazarus Corporate Finance is underwriting the offer up to $2 million.

PNX Metals has launched a one-for-four non-renounceable rights issue to raise $4.6 million at 0.5c per share.

Major shareholder Delphi will participate.

The funds will be used to advance PNX's projects in the Northern Territory.

Castle Minerals has completed an oversubscribed placement to clients of Peak Asset Management to raise $3.6 million.

The raising increased Castle's working capital to $6 million, which will be used to advance base metals and gold projects in Ghana and Australia.

Astro Resources has received binding applications for 838.3 million shares to raise $3.55 million for its Needles and Governor Broome projects.

Shares will be issued at 0.4c each and include two free-attaching 1c options.

Major shareholder Holdmark Property Group participated to maintain its 19.9% stake.

Potash developer Trigg Mining has launched a $3.3 million renounceable rights issue to advance the Lake Throssell project.

The three-for-eight offer is priced at 7.5c per share, a 31% discount to the 30-day volume-weighted average price. Every two shares will come with a 15c 2024 option.

The offer is partially underwritten to $1.5 million by Mahe Capital.

MRG Metals has successfully completed a $1.6 million placement through the issue of 200 million fully paid ordinary shares at 0.8 per share, together with 100 million attaching options, exercisable at 2.5c by June 2023).

The funds will be used for the advancement of the Corridor sands project in Mozambique.

Chile-focused Southern Hemisphere Mining has launched a one-for-five renounceable rights issue to raise $1.5 million.

The issue is prices at 3c per share, a 25% discount to the last close, and every two new shares will come with a 10c, two-year option.

Finally, Gladiator Resources has received firm commitments for a $1.2 million placement at 3c per share.

The proceeds will be used for uranium exploration in Tanzania and gold exploration in Victoria.

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