CAPITAL MARKETS

Capital Watch: Greenvale, Beacon and more

This week's capital raisings in the junior mining space

Staff reporter

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Greenvale Mining has boosted the size of its share purchase plan due to demand.

The $3 million offer attracted subscriptions totalling $6.4 million and will be scaled back to $4.5 million.

The cash will allow the company to fast-track exploration at the Georgina Basin iron oxide-copper-gold project.

Junior gold producer Beacon Minerals has raised a further $3.9 million via the exercise of options.

It takes the total raised to $17.6 million from the exercise of 683.7 million listed options and 20 million unlisted options.

The company still has another 214.1 million listed options on issue.

Tin explorer Stellar Resources has received firm commitments to raise $3.6 million at 2.2c per share.

Taylor Collison was lead manager and bookrunner to the two-tranche placement.

Stellar is now fully funded for its 2021 exploration programs at Heemskirk.

Theta Gold Mines has raised $3.1 million in a placement to sophisticated and professional investors at 27.5c per share.

The gold developer also issued a further 3.6 million shares to settle a $1 million short-term loan.

The funds will be used to advance development in South Africa.

Finally, Queensland explorer Cannindah Resources has raised $1.25 million in a placement that received cornerstone support from Fresh Equities.

The proceeds will be used to advance the Mt Cannindah and Picadilly projects.

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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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