Capital Watch: Artemis, Agrimin and more

THIS week's capital raisings among explorers and developers.
Capital Watch: Artemis, Agrimin and more Capital Watch: Artemis, Agrimin and more Capital Watch: Artemis, Agrimin and more Capital Watch: Artemis, Agrimin and more Capital Watch: Artemis, Agrimin and more

Staff reporter

Pilbara explorer Artemis Resources has received firm commitments to raise £5 million as part of a dual listing on London's AIM.

The issue price of 3.75p is in line with ASX trading levels.

Artemis expects to list in London on February 7 and will have A$12.5 million cash to advance its Paterson Province projects.

Potash developer Agrimin has launched a placement and share purchase plan to raise up to A$7 million.

The company has raised $5 million in a placement joint lead managed by Euroz Hartleys and Bell Potter Securities.

A further $2 million will be sought via a share purchase plan.

The issue price for the capital raising is 35c per share, a 17.6% discount to the last trading price.

Gold explorer Torian Resources has signed an underwriting agreement with GBA Capital over unlisted options expiring next month.

GBA has agreed to underwrite 150 million of the 249.1 million 2c options, raising $3 million.

Askari Metals has completed an oversubscribed placement to raise $2.6 million as part of the acquisition of the Barrow Creek lithium project in the Northern Territory.

Shares will be issued at 35c each, a 6.5% premium to the previous close, and will include a one-for-three free-attaching option.

Peak Asset Management was lead manager.

Austin Metals has received commitments to place 108.7 million shares at 2.3c per share to raise $2.5 million.

The funds will be used to accelerate work at the Austin gold project near Cue in Western Australia.

Sultan Resources has raised $2.2 million in a strongly supported placement to institutional and sophisticated investors.

The placement was lead managed by Xcel Capital and ARQ Capital.

The proceeds will be used for drilling in Western Australia and New South Wales.

Gold explorer Nelson Resources has launched a two-for-five renounceable rights issue to raise $1.9 million.

The issue is priced at 2.5c per share, a 27% discount to the one-month volume-weighted average price.

Every two shares will come with an 8c option, exercisable by August 2023.

Red Mountain Mining has received firm commitments to raise $1.6 million via the issue of 177.9 million shares at 0.9c each.

Xcel Capital was lead manager, with the funds to be used for exploration at Mt Mansbridge.

Alice Queen has raised $1.3 million at 0.8c per share in a placement.

The proceeds will be used for drilling at Horn Island.

Finally, Woomera Mining has raised nearly $1.2 million from the placement of shortfall shares from a one-for-five non-renounceable rights offer.

It took the total amount raised to $2.1 million.