CAPITAL MARKETS

Capital Watch: S2, American West and more

A LIFT in capital raisings this week.

Staff reporter
Capital Watch: S2, American West and more

S2 Resources has raised A$6.4 million in a strongly supported placement to fund exploration in Australia.

Euroz Hartleys acted as lead manager to the 12c per share placement.

American West Metals is seeking to raise more than A$5.2 million via a placement and rights issue for copper exploration in North America.

The company has raised $2.65 million via a placement and is seeking to raise a further $2.66 million through a one-for-five non-renounceable rights issue.

RM Corporate Finance is acting as lead manager to the 5c issues, which include a one-for-two 10c option.

Directors will participate in the raising, subject to shareholder approval.

US-focused Dateline Resources has received commitments to raise $2.71 million at 2c per share.

The company has also agreed to launch a rights issue to raise up to $1 million, with Peak Asset Management agreeing to take any shortfall.

Directors will convert up to $900,000 in debt to shares.

Peregrine Gold has launched a one-for-six entitlement offer at 38c per share, which includes a one-for-two three-year option with an exercise price of 55c.

The offer, which will raise $3.01 million, is fully underwritten by lead manager Argonaut Securities.

The funds will be used for gold and lithium exploration in the Pilbara.

Mt Monger Resources has received commitments for a two-tranche 10c per share placement to raise $3 million.

Lazarus Corporate Finance acted as lead manager.

The proceeds will be used for the company's first drilling program at the Pomme rare earths project in Quebec.

Mako Gold has signed a drill-for-equity deal with Geodrill for up to US$2 million.

The agreement is valid for 12 months, including two six-month stages of up to $1 million each.

Pilbara-focused explorer Artemis Resources has received firm commitments to raise A$2.55 million in a placement led by CPS Capital.

The placement is priced at 1.5c per share, a 6% discount, with one free option to be issued for every two shares.

Exploration will restart at the company's projects after a strategic review.

Conico has announced a placement and rights issue to raise up to $2.55 million.

The company has raised $500,000 via a placement to sophisticated investors and will seek a further $2.15 million via a non-renounceable rights issue, with both managed by Peloton Capital.

The issue price for both offers is 1c per share, with every two shares to come with a free-attaching option.

Torque Metals has received firm commitments for a $2.5 million placement for gold drilling at the Paris Camp.

Every two new 13.5c shares will come with a free option.

Euroz Hartleys acted as lead manager.

Golden Mile Resources has launched a two-for-five renounceable entitlement offer to raise up to $1.3 million.

The offer is underwritten to $750,000 by lead manager Mahe Capital.

The issue is priced at 1.6c, a 24% discount, and includes one option for every two shares issued.

Traka Resources has launched a one-for-five non-renounceable entitlement issue to raise up to $867,329.

The cash raised will be used to advance the Mt Cattlin and Gorge Creek projects.

Finally, an existing lender of R3D Resources has agreed to refinance its loan due at the end of February into a $500,000 convertible note.

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.

editions

Mining Journal Intelligence Project Pipeline Handbook 2024

View our 50 top mining projects, handpicked using a unique, objective selection process from a database of 450+ global assets.

editions

MiningNews.net Research Report 2024

Access a multi-pronged tool to identify critical risks and opportunities in Australia’s mining industry.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.

editions

Mining Journal Intelligence Mining Equities Report 2023

Access an exclusive, inside look on the quarterly mining IPOs and secondary raisings data and mining equities performance tables with an annual Stock Exchange Comparisons supplement.