Capital Watch: Pacgold, Emmerson and more

A BUSY week for capital raisings leading up to Easter.
Capital Watch: Pacgold, Emmerson and more Capital Watch: Pacgold, Emmerson and more Capital Watch: Pacgold, Emmerson and more Capital Watch: Pacgold, Emmerson and more Capital Watch: Pacgold, Emmerson and more

Staff reporter

Pacgold has received firm commitments to raise $7.8 million to accelerate exploration at Alice River.

The company will seek a further $3.2 million via an entitlement offer.

The issues are priced at 63c per share.

Taylor Collison and Euroz Hartleys were joint lead managers.

Emmerson Resources has received firm commitments to raise $5 million at 11.5c per share for exploration in Tennant Creek and New South Wales.

Bell Potter Securities and Euroz Hartleys were joint lead managers.

Shareholders will be able to participate in a share purchase plan to raise up to a further $1.5 million.

Sabre Resources has raised $4.9 million in a heavily oversubscribed placement to advance its Sherlock Bay nickel project.

The company will issue 754.3 million shares at 0.65c each, including a one-for-one 0.6c option.

Peak Asset Management was lead manager.

Copper developer Caravel Minerals is raising additional funds to bring forward early work for the bankable feasibility study for its namesake project.

The company will launch a one-for-25 pro-rata non-renounceable rights issue at 29c per share to raise up to $4.52 million.

The minimum subscription is $1.5 million.

Redbank Copper has raised $4 million for drilling at its namesake project in the Northern Territory.

The strongly supported raising was priced at 3.5c per share, a 20.2% discount to the 15-day volume-weighted average price.

Argonaut was lead manager.

Mexico-focused Mithril Resources has received firm commitments to raise $3.5 million at 1c per share through Taylor Collison and Morgans Corporate.

Every two shares will come with an option, exercisable at 1.5c within two years.

Directors will subscribe for $100,000, subject to shareholder approval.

Scorpion Minerals has raised $3.18 million in a heavily oversubscribed placement priced at 5.1c per share, a 23% discount to the last price.

The funds will be used for lithium and base metals exploration in Western Australia.

Merchant Capital Partners was lead manager.

Copper explorer AuKing Mining has appointed Vert Capital as lead manager for a placement to raise up to $2.63 million, with the ability to accept oversubscriptions of up to $980,000.

The issue is priced at 14c per share and will include a one-for-three option.

Conico has launched a one-for-six non-renounceable pro-rata rights issue at 2.6c per share to raise $2.49 million.

Peloton Capital is underwriting the offer with RM Corporate Finance to sub-underwrite.

Aldoro Resources has placed 9.2 million shares at 25c each to raise $2.3 million for rubidium and lithium exploration.

Every two shares will come with a free-attaching option.

Xcel Capital was lead manager to the offer.

Finally, Cohiba Minerals has received $278,595 after executive chairman Mordechai Benedikt exercised all of his options.