CAPITAL MARKETS

Capital Watch: Mincor, Thomson and more

Funding updates from a handful of companies to start 2023

Staff reporter

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Nickel producer Mincor Resources has closed its A$5 million share purchase plan early due to high demand.

Directors have resolved to accept the valid oversubscriptions received prior to the revised closing date with no scale-back.

The SPP followed a $55 million placement just before Christmas.

Thomson Resources has entered into a month share purchase agreement with Lind Global Fund II for one year.

The company can draw down on monthly tranches up to a total of $3.5 million.

Traka Resources has entered into an at-the-market (ATM) subscription facility with Dolphin Corporate Investments (DCI) to provide the company with up to $3 million of standby equity capital over the next three years.

Use of the facility will be at Traka's discretion.

Traka said the facility provided it with significant flexibility of terms and of timing for financing of its exploration activities at the Mt Cattlin gold-copper project.

Finally, Orion Minerals has entered into a convertible loan agreement with Tembo Capital.

The US$500,000 will be used by Orion to maintain momentum at its Prieska copper-zinc project in South Africa.

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