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.