Flynn Gold has launched an equity raising of up to A$6.1 million following exploration success at Trafalgar in Tasmania.

 

The company has raised $1.3 million in an institutional placement and has launched a one-for-two non-renounceable entitlement offer to raise up to $4.8 million at 10c per share.

 

The entitlement offer has been underwritten to $2.4 million by lead manager Henslow. Taylor Collison is co-lead manager.

 

Pivotal Metals (formerly Rafaella Resources) has completed a $4.3 million capital raising for the acquisition of the Horden Lake copper-nickel-platinum group metal project in Quebec.

 

The company raised $3.3 million via a non-brokered private placement and $1 million via a Riverfort funding agreement as part of the acquisition.

 

The issue price was 4.2c per share, a 12.5% discount. 

 

South Australia-focused silver developer Investigator Resources has received firm commitments to raise $4.2 million via a placement.

 

The issue price was 4.2c per share, a 16% discount, with every two shares to come with an option.

 

PAC Partners was lead manager to the placement.

 

Manuka Resources has completed a $4.1 million placement to institutional and high-net worth investors.

 

The issue price was 10.5c per share, a 19.2% discount to the last closing price, with one option to be issued for every two new shares.

 

The proceeds will be used for gold, silver and vanadium exploration.

 

Lefroy Exploration has received firm commitments to raise $3.5 million in an oversubscribed placement. 

 

Bridge Street Capital Partners acted as sole lead manager and bookrunner to the 24c per share placement.

 

The company's immediate priority is to deliver a maiden resource for its Burns copper-gold prospect outside Kalgoorlie in March.

 

Aurumin has entered into an at-the-market subscription agreement with Acuity Capital for up to $3 million of standby equity over the next 18 months.

 

Aurumin has sole discretion whether or not to use the facility and can set a floor price.

 

Rare earths and gold explorer Asra Minerals has raised $2.5 million via a convertible note issue.

 

The company issued 2.5 million notes, with noteholders to receive 12 free-attaching options for every $1 invested, which could realise another $1.05 million if exercised.

 

GBA Capital acted as lead manager.

 

Dual-listed Kincora Copper has completed an oversubscribed placement to raise $2.4 million.

 

Directors will subscribe for $130,000.

 

The funds will be used for exploration in the Lachlan Fold Belt.

 

Koba Resources has raised $1.65 million at 15c to progress its emerging Canadian lithium portfolio.

 

Hartleys and Peloton Capital managed the placement.

 

C29 Metals has raised $1.1 million in an oversubscribed placement to advance lithium exploration in Argentina. 

 

Finally, Terrain Minerals has raised $800,000 via a placement at 0.6c per share, supported by a small number of long-term shareholders.