Capital Watch: Carawine, Monger and more

A HEALTHY flow of capital raisings this week.

Staff reporter
Capital Watch: Carawine, Monger and more

Carawine Resources, which is 82.6%-owned by QGold, has launched a renounceable entitlement offer to raise up to $5.5 million for exploration.

QGold will take up its full entitlement.

Monger Gold has raised $4.5 million in two tranches at 40c per share, a 7.5% discount to the 15-day volume-weighted average price of shares.

Canaccord Genuity was lead manager.

The placement will fund work at newly acquired lithium projects.

Copper explorer Coda Minerals has received firm commitments to raise $3.85 million in an oversubscribed placement managed by CPS Capital Group.

The issue price of 24c represented a 17.6% to the 15-day VWAP.

The funds will be used to fast-track the Elizabeth Creek project in South Australia.

Ballymore Resources is raising up to $3.4 million for further gold and copper exploration.

The company received commitments for a $2.9 million placement at 16c per share and will seek a further $500,000 via a share purchase plan.

Morgans was lead manager to the placement.

Theta Gold Mines has raised $1.7 million via a private placement and will launch an SPP seeking up to a further $1.5 million.

The issue price is 7c per share.

The company will use the funds to advance its TGME gold project in South Africa.

Americas-focused PolarX has launched a two-for-five renounceable rights issue to raise up to $2.88 million.

The issue price is 0.8c per share, an 11% discount to the last price.

The proceeds will be used for drilling at the Humboldt Range gold project in Nevada.

Gold explorer Strickland Metals has raised $2.4 million via the oversubscribed placement of the shortfall from its recent SPP.

The $1.77 million shortfall was well-supported and the decision was made to accept $625,000 in overbids.

Venus Metals Corporation has received commitments to raise $2.16 million under a placement at 12c per share, including a one-for-two option.

The cash will be used for rare earths exploration.

QMines has raised $1.26 million via an oversubscribed placement after it was approached by a small group of resource funds and family offices looking to gain exposure to copper.

Whairo Capital was lead manager to the 15c per share offer.

The funds will be used for exploration at Mt Chalmers.

Developer Ironbark Zinc has raised $1.5 million for its Citronen project in Greenland.

Peak Asset Management managed the placement of shares at 1.05c each, a 25% discount, with a one-for-four attacking option.

Resource Base has received firm commitments for a placement to raise $750,000 for rare earth exploration.

Chairman Maurice Feilich and director Brent Palmer will chip in a combined $150,000, subject to shareholder approval.

Still Capital has agreed to underwrite Aldoro Resources' unlisted options, expiring in November.

It represents an underwriting amount of up to $427,500.

Raiden Resources is raising $326,488 in a non-renounceable entitlement offer of options, underwritten by CPS Capital Group.

Finally, Kingsland Minerals is looking to raise $186,949 via a loyalty options offer.

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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