CAPITAL MARKETS

Capital Watch: Latitude, Aura and more

There was a lift in capital raisings in the mining sector this week

Staff reporter
Capital Watch: Latitude, Aura and more

Gold-focused Latitude Consolidated has received firm commitments to raise $6.75 million at 6.8c per share, an 8% discount.

Shaw and Partners was sole lead manager.

The cash will fund the next phase of exploration at the Murchison gold project.

Suspended uranium developer Aura Energy has completed a rights issue, which, together with a loyalty options entitlement issue and placement, will raise $5.8 million.

Investors including John Hancock, Peter Proksa and Alex Molyneux participated in the offer.

The proceeds will be used to expedite the Tiris uranium project in Mauritania, including drilling and updating the engineering study for the definitive feasibility study.

Strike Resources has raised $5 million in an oversubscribed placement for iron ore projects in Australia and Peru.

Canaccord Genuity was lead manager to the 22c per share issue.

Unlisted technology-driven explorer SensOre is seeking to raise A$5 million via Minexia.

The offer closes next week, with the company already securing more than $3.2 million.

Mineral processing technology company Zeotech has secured $3.7 million in a placement to sophisticated investors.

New shares were issued at 7c per share, an 11.4% discount to the last traded price.

The proceeds will be used to upgrade the current single-feed kaolin pilot plant program to dual-feed, advance the existing carbon capture research program and further expand research opportunities.

Australian Bauxite has placed 32.5 million shares at 10c each to raise $3.25 million.

Each share came with a 20c option, exercisable by May 2023.

The funds will support the aluminium fluoride development program and rare earth elements exploration.

Potash player Trigg Mining has launched a two-for-five renounceable rights issue to raise up to $3.2 million, which will be underwritten to $1.5 million by Mahe Capital.

The offer is priced at 10c, a 29% discount to the 30-day volume-weighted average price, with every two shares to come with a 20c option.

Directors will participate in the offer, with the proceeds to be used to advance the Lake Throssell project.

Papua New Guinea-focused Mayur Resources has completed an oversubscribed capital raising of $2.5 million for working capital.

The 20c raising was managed by Whairo Capital.

Cassius Mining has received firm commitments to raise $425,000 at 1.5c per share.

Subject to shareholder approval, directors will subscribe for $150,000 of the placement.

Newcrest Mining has subscribed for $325,500 worth of shares in Antipa Minerals to maintain its 9.9% stake.

Finally, Indiana Resources has received $325,725 via the exercise of listed and unlisted options.

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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