Capital Watch: Battery Age, Centrex and more

THERE was a pick-up in capital raisings this week.
Capital Watch: Battery Age, Centrex and more Capital Watch: Battery Age, Centrex and more Capital Watch: Battery Age, Centrex and more Capital Watch: Battery Age, Centrex and more Capital Watch: Battery Age, Centrex and more

Staff reporter

Battery Age Minerals has raised roughly A$6.4 million to fund a further 15,000m of drilling and field exploration at the Falcon Lake lithium project in Canada.

The company raised $5.4 million via Canada's flow-through share scheme at 46c per share, an 11% premium.

Significant interest allowed the company to accept a further $1 million at 34c in a placement to institutions.

Euroz Hartleys and Canaccord Genuity acted as joint lead managers with Sixty-Two Capital as co-manager.

Phosphate producer Centrex has completed a placement to raise $4.25 million at 9c per share, managed by Taylor Collison.

The company will seek to raise a further $1 million via a share purchase plan.

The funds allow the company to bring forward the construction of infrastructure for Ardmore stage 1.5.

Nickel and lithium explorer Nimy Resources has secured a $2.5 million cornerstone investment from Lind Global Fund II, staged over a maximum 24 months.

The first $1.75 million will be received immediately with the balance due after Nimy receives shareholder approval.

The cash will fund work at the Mons project in Western Australia.

Delta Lithium has received $2.5 million from the exercise of unlisted options.

The 9.9 million options had an exercise price of 25c, versus the company's recent trading levels above 90c.

Multi-commodity explorer Astute Metals (formerly Astro Resources) has entered into a binding subscription agreement with its major shareholder, Holdmark Property Group, for a $2.06 million investment.

The investment will increase Holdmark's stake to 19.9%.

Pantera Minerals has raised $2 million in an oversubscribed raising to fund the company's $2 million investment in private lithium brine explorer Daytona Lithium.

The two-tranche, 7c per share placement was managed by PAC Partners.

Balkan Mining and Minerals has received firm commitments to raise $1.47 million at 17c per share.

Director Karl Simich has subscribed for an additional $170,000, subject to shareholder approval.

The proceeds will fund drilling at the Gorge lithium project.

Western Gold Resources has secured firm commitments for a placement to raise $1.5 million at 3.5c to fund its move into rare earth and graphite exploration in Sweden.

The lead manager, GTT Ventures, is affiliated with the vendors of the new projects.

Lithium brine explorer Power Minerals has raised $1.5 million via the issue of a secured convertible note.

The company plans to repay the note within two months using funds from a previously announced $2.6 million placement.

Enova Mining has secured commitments to raise up to $1.5 million, supported by GBA Capital.

The 0.6c per share placement will be conducted in two tranches with work to be used to advance the Charley Creek project.

Gold 50 has raised $1.35 million at 14c per share, a 6.7% discount.

The funds will be used for more exploration at the Golconda gold project in Arizona, where gallium was also recently found.

Microcap Moho Resources has withdrawn its May entitlement offer which was seeking to raise up to $1.3 million.

Market conditions was cited as the reason for the withdrawal.

Perth-based, Toronto-listed Golden Horse Minerals (formerly Altan Rio Minerals) has raised C$1.2 million in a private placement.

The funds will be used for exploration in Southern Cross.

Manuka Resources has raised A$862,500 in a private placement to unrelated professional and sophisticated investors.

The proceeds from the 5c per share placement will be used for working capital and for the ramp-up of gold production.

Native Mineral Resources has raised $640,913 via a placement at 3c per share, plus a one-for-three option, exercisable at 6c within a year.

The funds will be used for the acquisition of the Mclaughlin Lake lithium project in Canada.