Capital Watch: Parabellum, Firebird and more

THIS week's capital raisings in the junior sector.
Capital Watch: Parabellum, Firebird and more Capital Watch: Parabellum, Firebird and more Capital Watch: Parabellum, Firebird and more Capital Watch: Parabellum, Firebird and more Capital Watch: Parabellum, Firebird and more

Staff reporter

Parabellum Resources has received firm commitments to raise A$3.9 million at 20c per share via a well-supported placement in two tranches.

It comes two weeks after the company announced the $3.9 million staged acquisition of a stake in the Khotgor rare earths project in Mongolia.

The cash raised will be used to complete a JORC resource and a scoping study.

Manganese developer Firebird Metals has received firm commitments to raise $3.5 million, including $420,000 from directors, subject to approval.

The issue is priced at 20c per share, a 4.8% discount, with every two shares coming with an option exercisable at 30c within two years.

Euroz Hartleys acted as lead manager.

Queensland explorer Sunshine Gold has raised $3.5 million at 2.5c per share, including $245,000 from directors.

Shaw and Partners was lead manager.

The funds will be used to drill multiple projects.

Mount Ridley Mines has entered into an option underwriting agreement with Capital Investment Partners, worth up to $3.4 million.

The company has 1.92 billion options exercisable by November 30.

The deal could see the underwriter hold up to 19.9% of Mount Ridley.

Cannindah Resources has raised $2 million via a placement of 9.3 million shares at 21.5c per share.

The proceeds will be used to continue to advance the Mt Cannindah project in Queensland.

New South Wales explorer Lode Resources has secured $1.63 million at 14c per share, managed DealAccess.

The two-tranche placement will include a one-for-two option.

Lithium Australia has used its at-the-market subscription facility with Acuity Capital to raise $930,000.

The funds are for working capital.

Finally, Strategic Energy Resources has raised $875,000 in a placement that was seeking at least $500,000 for exploration in Queensland and New South Wales.

Directors subscribed for $204,000 worth of shares.