CAPITAL MARKETS

Capital Watch: Altura, Podium and more

The latest capital raisings in the the small-cap mining space

Staff reporter
Capital Watch: Altura, Podium and more

Altura Mining has received commitments to raise $6.5 million from investors in Australia, Asia and North America.

The company will launch an entitlement offer to raise a further $2 million.

The issue price is 0.5c per share.

The raisings will allow the company to relist on the ASX under the new name of Morella Corporation and start lithium exploration.

PGE explorer Podium Minerals has raised $4.5 million in a placement to sophisticated investors and will launch a $2 million share purchase plan.

Subject to shareholder approval, director Rod Baxter will subscribe for $2 million of the placement.

Canaccord Genuity is lead manager to the placement and will underwrite the SPP.

Trek Metals has received firm commitments to raise $3.5 million via an oversubscribed placement and will seek to raise a further $2 million via an SPP

The issue price is 11.5c per share, a 14.8% discount to the last closing price.

EverBlu Capital was lead manager.

The funds will be used to advance the Pincunah discovery in the Pilbara.

Peak Minerals has received commitments to raise $4.9 million in two tranches.

New shares will be issued at 1.5c per share and will come with a free-attaching option.

The proceeds will be used to explore newly acquired copper projects in Western Australia.

Thomson Resources has tapped US investors for $4.83 million for work on its Lachlan Fold Belt projects.

Roth Capital Partners is managing the placement, which is priced at 7.5c per share with three options to be issued for every four shares.

The company will also launch a non-renounceable rights issue of 0.1c options.

Gold explorer Kingwest Resources has raised $4 million to fund work at its Lake Goongarrie discoveries.

Euroz Hartleys and Peloton Capital were joint lead managers to the offer, which was priced at 12c per share.

It increases cash reserves to more than $5.5 million.

Newly listed nickel explorer Cannon Resources has raised $4 million in a placement priced at 40c per share, a 9% discount to the last close.

The company said its recent drilling results had sparked interest from investors.

Dart Mining has raised $2.7 million in an oversubscribed placement managed by Sequoia Corporate Finance.

The placement was priced at 11c per share, a 15.4% discount to the 15-day volume-weighted average price.

The issue will fund exploration work in Victoria.

Auris Minerals has launched a $2.38 million option entitlement offer to fund gold and copper exploration.

Lazarus Corporate Finance is underwriting the offer.

Nickel explorer Adavale Resources has terminated its share purchase plan due to the late lodgement of a cleansing notice.

The company has relaunched the SPP and will increase the cap from $1 million to $1.5 million.

Triton Minerals has entered into an underwriting agreement with Lazarus Corporate Finance as part of its recently announced $9.79 million entitlement offer.

Lazarus will underwrite the offer to $1 million.

Finally, ABx Group's SPP has exceeded demand, with $640,000 of subscriptions to the $500,000 offer rolling in 10 days before it was due to close.

The company will upsize it to $1 million.

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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