CAPITAL MARKETS

Capital Watch: Alvo, White Energy and more

A HANDFUL of capital raisings completed this week.

Staff reporter
Capital Watch: Alvo, White Energy and more

Alvo Minerals has received binding commitments for a two-tranche placement to raise $5.1 million at 25c per share.

The placement received cornerstone support from Resource Capital Fund, Paragon Funds Management and Lowell Resources Fund.

The funds will be used to advance the Bluebush rare earth project in Brazil.

Discovery Capital Partners acted as lead manager.

White Energy Company has launched a one-for-one renounceable pro-rata entitlement offer to raise up to $4.45 million.

Shares are being offered at 10c each, a slim 2.9% discount to the three-month volume-weighted average price.

The proceeds will be used to fund ongoing legal action in Singapore and for working capital.

Boadicea Resources has launched a three-for-five renounceable entitlement issue to raise up to $2.4 million.

The issue price is 5c per share, a 30% discount, with one option to come with every two new shares.

Lead manager Mahe Capital will underwrite the issue to $500,000.

Michael Fotios' Obsidian Metals Group will invest $1 million in Greentech Metals after entering into a lithium services agreement with the company.

Shares will be issued at 14.4c each once shareholder approval is received.

Cosmo Metals has secured $650,000 in a private placement via two tranches.

The proceeds will be used for delivering new exploration opportunities, work at the Yamarna base metal project and working capital.

Finally, Goldfields-focused explorer Altan Rio Minerals is raising up to C$600,000 via a non-brokered private placement.

The company intends to use the proceeds to continue its field exploration program and desktop work, general working capital and administrative expenses.

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