CAPITAL MARKETS

Capital Watch: Australian Pacific, Antipa and more

Resource raisings from the past week

Staff Reporter
Capital Watch: Australian Pacific, Antipa and more

Dartbrook developer Australian Pacific Coal is seeking up to A$12 million for the restart of its mine in New South Wales, split between a $4 million placement and an accelerated entitlement offer for $8 million at 11c per share, a 15% discount.
 
It already has commitments for at least $10 million.  Ord Minnett and Wilsons Corporate were lead managers.
 
The company aims to secure full finance and resume operations before the end of the year. 
 
Antipa Minerals has received binding commitments to raise $5 million via a placement to institutional and sophisticated investors.
 
The size of the raising could increase to $5.5 million if major shareholder Newcrest Mining exercises its right to maintain its 9.9% shareholding.
 
Euroz Hartleys, Canaccord Genuity and Shaw and Partners acted as joint lead managers.
 
The funds will be used to advance the Minyari Dome gold-copper project in Western Australia's Paterson Province.
 
West Africa-focused gold explorer Toubani Resources has received commitments to raise $3.8 million.
 
The two-tranche placement will see 31.6 million CHESS depositary interests issued at a price of 12c, a 14.3% discount.
 
Canaccord Genuity and Bell Potter Securities acted as joint lead managers.
 
VRX Silica has launched a $3 million capital raising to fund the Arrowsmith North and Muchea projects.
 
The raising comprises a $1.5 million placement at 12c per share, including a one-for-two option, and a $1.5 million share purchase plan on the same terms.
 
Canaccord Genuity acted as lead manager to the placement.
 
Felix Gold is conducting an SPP to raise up to $3 million at 8c per share, a 15.4% discount to the five-day volume-weighted average price.
 
The proceeds will be used to progress exploration at the Treasure Creek gold project in Alaska.
 
Rincon Resources has completed an oversubscribed placement to raise $2.6 million to accelerate exploration at its West Arunta and Paterson Range projects.
 
The issue price was 2.5c per share, a 19.4% discount.
 
CPS Capital Group and Ironside Capital jointly managed the two-tranche placement.
 
Gold explorer Matsa Resources has announced a $2 million placement to fund work in Western Australia and Thailand.
 
The two-tranche placement, managed by Wentworth Securities, is priced at 3c per share, an 18.9% discount. 
 
Major shareholder Deutsche Balaton supported the issue.
 
Culpeo Minerals has secured commitments for $1.22 million at 3.2c per share to advance exploration across its Fortuna and Lana Corina copper projects in Chile.
 
Krakatoa Resources has withdrawn its $1.01 million non-renounceable entitlement offer due to market conditions.
 
Participants will be refunded.
 
PGE explorer Peako has launched a one-for-three non-renounceable entitlement offer to raise up to $1.01 million.
 
Shares will be issued at 0.7c per share, a 14.5% discount, with one option to be issued for every three shares.
 
Iron Road has launched an SPP to raise up to $1 million for its Cape Hardy port and Central Eyre iron project.
 
The issue price is 8c per share.
 
Lodestar Minerals has placed 137.5 million shares at 0.6 each to raise $825,000, with $550,000 of the funds being used to repay debt.
 
Every two shares will come with an unlisted option.
 
Finally, Manuka Resources has raised $185,000 via a private placement to an existing institutional investor based in Europe.

 

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