Capital Watch: Sarytogan, Avenira and more

A bumper week for capital raisings prior to the Easter break.

Staff reporter
Capital Watch: Sarytogan, Avenira and more

Sarytogan Graphite has raised A$5 million via the issue of 15.1 million shares at 33c each.

The placement will allow for the advancement of the Sarytogan graphite project in Kazakhstan.

Inyati Capital and RM Corporate Finance managed the raising.

Avenira has received commitments for a two-tranche placement to raise $5 million.

The oversubscribed placement was managed by Petra Capital with Ignite Capital as co-lead manager.

The company will use the funds for trial mining at the Wonarah phosphate project.

Theta Gold Mines has secured $5 million from Deutsche Balaton, Golden Asia Investment Group and Aus Agriculture in the form of a convertible loan.

The funds will be used to start the Frankfurt mine after the company signed a bulk sampling trial run with Pan African Resources.

The lenders can convert the loan into shares at any time and will be entitled to 10% of gross revenue from Frankfurt.

Aldoro Resources has raised $3.8 million in a placement managed by Xcel Capital.

The 17.5c per share offer includes one new option for every two new shares.

The funds will be used to continue exploration at the Wyemandoo, Niobe and Narndee projects.

Clara Resources has completed a two-tranche placement to raise $3.5 million and will conduct a 100:1 consolidation.

Major shareholders Savannah Goldfields and DGR Global will participate.

The proceeds will be used to accelerate the commercialisation of the Ashford coking coal project and development of the Kildanga nickel-cobalt prospect.

Graphite developer Evion Group has raised $3.4 million to advance its projects.

Every two new 5.4c shares issued will come with an option exercisable at 7.5c within 12 months.

Euroz Hartleys was lead manager.

Sweden-focused Alicanto Minerals has raised $3.15 million to test a 10km-long prospective corridor at its Falun polymetallic project.

The issue price of 3.5c per share represents a 20.5% discount to the last closing price.

Canaccord Genuity acted as lead manager.

Tin explorer Elementos has raised $3 million for the definitive feasibility study for its Oropesa project.

The placement included an $800,000 investment by chairman Andy Grieg.

Morgans and BW Equities were joint lead managers.

Westar Resources has launched a one-for-one pro-rata entitlement offer to raise up to $2.77 million.

The issue price is 3c per share with one free-attaching option for every three new shares.

The funds will be used for exploration.

Sarama Resources has raised $2 million to complete a preliminary economic assessment at the Sanutura project in Burkina Faso.

The company will issue 20 million CHESS depositary interests at 10c each, a 4.8% discount, plus one option for every two new CDIs.

Euroz Hartleys acted as lead manager.

Finally, Fin Resources has received commitments to raise $550,000 at 1.8c per share as part of a lithium acquisition announced this week.

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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