CAPITAL MARKETS

Capital Watch: Todd River, Golden State and more

This week's capital raisings in the junior exploration space

Staff reporter
Capital Watch: Todd River, Golden State and more

Todd River Resources has raised $3.3 million via a placement at 5.5c per share, a 5.6% premium to the 10-day volume-weighted average price.

Acorn Capital Investment Fund cornerstoned the placement.

The proceeds will fund work on the Berkshire Valley, Nanutarra and Petermann Range projects.

Golden State Mining has completed a bookbuild to raise $3.2 million via the issue of shares at 12.5c each.

Euroz Hartleys acted as lead manager.

The funds will be used for gold and lithium drilling in the Mallina Basin.

WA explorer Great Boulder Resources is raising $3.1 million for drilling at the Whiteheads and Side Well gold projects.

The company has received binding commitments for a $1.65 million placement and will launch a two-for-nine non-renounceable entitlement offer to raise $1.46 million.

The issue price for the offers, lead managed by Discovery Capital Partners and Cumulus Wealth, is 3.5c.

Legacy Iron Ore has raised $3.15 million at 2c per share for gold drilling at Mt Celia.

EverBlu Capital was lead manager.

Astro Resources has raised just under $3 million to advance its three projects in WA and the US.

The two-tranche placement was conducted at 0.4c per share, with a one-for-one 1c option.

Major shareholder Holdmark Property Group participated to maintain its 19.9% stake.

RareX has made a strategic placement to resources investor Simon Lee AO.

Lee will subscribe for 25 million shares at 11c each to raise $2.75 million.

Perpetual Resources has raised $2 million at 8c per share for the Beharra silica sand project.

Germany's Delphi Unternehmensberatung and Deutsche Balaton subscribed for the shares and will emerge with a combined 5% stake in Perpetual.

Finally, Corazon Mining has received firm commitments to raise $2 million for nickel drilling in Canada.

PAC Partners was lead manager to the 5c per share offer.

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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