CAPITAL MARKETS

Capital Watch: Salt Lake, Parkway and more

This week's capital raisings in the small and mid-cap space

Staff reporter

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Developer Salt Lake Potash has increased the size of its share purchase plan after the $5 million offer attracted double the amount of applications.

The company increased the size to $8 million.

Parkway Minerals has announced a "transformational" $5.25 million placement to raise $5.24 million.

The offer was lead managed by Evolution Capital Advisors.

Every two new 1.8c shares will come with a free 3c option.

Lachlan Star has received binding commitments to raise $3.5 million via a two-tranche placement at 1.7c per share, a 26.1% discount to the last closing price.

Bell Potter Securities and Shaw and Partners were joint lead managers.

The proceeds will be used for exploration at the Koojan copper-nickel-PGE and Killaloe gold projects.

Trek Metals has received commitments for a placement to raise $3.05 million at 6c per share, a 17.4% discount to the five-day volume-weighted average price.

Chairman Tony Leibowitz will contribute $350,000, subject to shareholder approval.

The cash will be used for exploration in the Pilbara.

Strategic Energy Resources has raised $2.2 million in an oversubscribed capital raising at 4.3c per share.

Fresh Equities arranged and supported the placement.

The proceeds will be used for exploration at the East Tennant and Canobie District copper-gold projects.

The placement of the shortfall from Aus Tin Mining's 2020 rights issue has raised $1.8 million.

The shortfall placement was assisted by 180 Markets and Pacway Capital.

Investors in Auroch Minerals have exercised options at 10c and 12c each, raising $1.3 million.

The company expects near full exercise of 39.7 million outstanding 10c November 2021 options, which could raise a further $3.9 million.

Finally, Lithium Australia raised another $282,000 when shareholders paid the balance of partly paid shares.

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.

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