CAPITAL MARKETS

Capital Watch: Greenstone, Kopore and more

A BUSIER week for capital raisings in the exploration space.

Staff reporter
Capital Watch: Greenstone, Kopore and more

Greenstone Resources has received firm commitments to raise $4.9 million for gold and platinum group element exploration.

The two-tranche placement will see an unnamed "strategic mining investor" take a 4.3% stake in the company.

Forrest Capital was sole lead manager to the placement, which was priced at 4.25c per share, a 13.7% discount to the 15-day volume-weighted average price.

Kopore Metals has undertaken a placement to raise $3 million for the Agadez uranium project in Niger.

Sprott Resources Corporation CEO Kevin Bamborough was a cornerstone bidder in the 3.3 per share placement.

Axion Capital Partners was lead manager to the placement.

Gold explorer OzAurum Resources has announced a share purchase plan to raise $2 million, underwritten by Canaccord Genuity.

The issue price is 16c per share, a 17.9% discount to the previous closing price.

The proceeds will be used to follow up the Demag Zone discovery at the Mulgabbie North project in the Western Australian Goldfields.

Lindian Resources has placed 20 million shares at 10c each, a 16% premium, to raise $2 million as part of its aim to acquire a project in Malawi.

Every two shares will come with an attaching 12c option, expiring in three years.

South America-focused Freehill Mining has received binding commitments from a number of sophisticated investors to subscribe for 37.5 million shares at 2c each to raise $750,000.

The proceeds will be used to scale up mining and processing at the company's Yerbas Buenas iron ore operation.

Finally, lithium explorer Red Dirt Metals has received $325,000 from the exercise of 1.3 million options.

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.

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