Capital Watch: Poseidon, Titan and more

THIS week’s capital raisings in the junior space.

Staff Reporter
Capital Watch: Poseidon, Titan and more

Poseidon Nickel has closed a A$6 million placement at 2c per share with Petra Capital and Morgans Corporate. Directors will seek permission to participate for $50,000.
Funds raised from the placement will primarily be applied to exploration drilling at the Black Swan and Lake Johnston projects in Western Australia, plus additional investments in preparing for the Black Swan restart, including further confirmatory metallurgical test work and securing accommodation at Kalgoorlie, Western Australia. 
Titan Minerals has secure commitments for $5.5 million at 5c to fund drilling at the Dynasty gold project in Ecuador.
Canaccord Genuity and Foster Stockbroking managed the raising.
EV Resources has raised US$3.4 million through a convertible note issue to Obsidian Global. The notes have a 24-month maturity with a face value of $1.08 and a conversion price of A2c.
The notes can be used to advance exploration at EVR's copper portfolio in the Americas.
Rapid resources growth plans in Sweden have seen Alicanto Minerals raise $3 million at 4c, with plans to test targets around the historical Fulan mine and along the 3.5km trend.
Canaccord Genuity acted as lead manager.
Mont Royal Resources has secured institutional and sophisticated investor support for a $2.2 million placement at 16c to fund greenfields lithium exploration in Canada's James Bay region.
Wentworth Capital Partners acted as lead managers.
Raiden Resources has finalised terms for an at-the-market facility with standby equity capital of up to $2 million over a 36-month term.
The company can draw down the funds to fund its emerging Pilbara battery metal exploration plans. 
Investors have subscribed for $1.5 million in Perpetual Resources at 2.2c. Directors will seek approval for an additional $250,000 on the same terms.
The funds will be used to primarily advance permitting and studies on its Beharra silica sand project in WA, with a minor allocation towards sampling at its merging lithium interests in Brazil. 
GBA Capital acted as lead manager to the placement. 
Finally, Enterprise Metals has completed a private placement to raise $250,000 at 0.5c with Singapore-based Vulcan Development to fund exploration of its gold, base metal and lithium targets in WA.


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 Research Report 2024

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


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.


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.


Mining Journal Intelligence World Risk Report 2023 (feat. MineHutte ratings)

A detailed analysis of mining investment risks across 121 jurisdictions globally, built on 11 ‘hard risk’ metrics and an industrywide survey.