Kalium Lakes has raised A$4.5 million through the placement of 13.2 million shares at 34c each to both new and existing shareholders.
Managed by BurnVoir Corporate Finance, the placement issue price represented a 18.1% discount to Kalium Lake’s last closing price of 41c each and a 15.4% discount to its 20-day volume weighted average price.
Proceeds from the placement will be used to help establish pilot evaporation ponds and production bores and to install pumps and pipelines at the company’s Beyondie sulphate of potash project, as well as advancing other regulatory approvals.
Celsius Resources has raised $3.5 million through the placement of 94.6 million shares at 3.7c each to help raise funds for work on its Opuwo cobalt project in Namibia.
The offer was jointly managed by Hartleys and Aesir Capital.
Gold Mountain has secured $2.8 million in new funding through the placement of 28 million shares at 10c each, along with one unlisted option for every two shares issued.
Each option will be exercisable at 15c with a 24-month expiry term from the date of issue.
Gold Mountain will use funds raised to fast track the publishing of a resource at its flagship Crown Ridge gold project in Papua New Guinea as well as ramping up the second phase of a bulk sampling program.
Avenira will raise the full $2.5 million from a recently announced share purchase plan after Dubai-based Agrifields DMCC agreed to take up any shortfall.
Avenira is offering 27.8 million shares at 8.4c each in a bid to raise funds for the ramp-up of activity at its Baobab phosphate project in Senegal, and to meet general working capital costs.
Agrifields, a fertiliser and raw materials company will subscribe for any shares left over when the SPP wraps up on May 26.
Manhattan Corporation has launched a share purchase plan to raise up to $1.3 million for work on the exploration and development of its Ponton uranium project, 200km east northeast of Kalgoorlie.
The company will issue new shares at 3.3c each, a 6% discount to the five-day VWAP of 2.5c– with the company to seek a shortfall placement should shareholders apply for fewer than 40.8 million shares, 30% of its total issued capital.
Superior Resources has adjusted the number of shares it will issue following a placement launched earlier this year that raised $495,000 through the issue of shares at 0.55c each.
The company received applications for 90 million shares but was only permitted to issue 86.9 million under the maximum placement capacity rule of the Australian Securities Exchange.
Having reduced the amount of shares to be issued to 86 million, the amount of cash raise fell by $17,136 to $477,864.
And finally, Strategic Energy Resources has cancelled a non-renounceable entitlements offer after its underwriting agreement with KSL Corp was terminated, saying it was considering its legal options.
Strategic had aimed to raise $2.1 million through the issue of one new share at 1.2c each for every two held, with KSL agreeing to underwrite the offer for $1.2 million when it was launched in April.
The notice to terminate the agreement cited a “material adverse change in existing financial markets and in international political conditions,” a claim Strategic has rejected.
Strategic said it was developing an alternate capital raising plan which it plans to launch in the near future.
