CAPITAL MARKETS

Capital Watch: Marquee, GTI and more

This week's capital raisings in the small cap space

Staff reporter
Capital Watch: Marquee, GTI and more

Diversified explorer Marquee Resources has received firm commitments for a strongly supported placement to raise $5.7 million at 10.5c per share.

The placement was cornerstoned by two international strategic investors.

The company will seek to raise a further $2 million via a share purchase plan.

GTI Resources has announced a $5 million placement in conjunction with the acquisition of 13,800 hectares of uranium exploration claims in Wyoming.

The company will issue 240 million shares at 2.1c each, including a one-for-four listed option, in the placement, which is being lead managed by CPS Capital Group.

The raising will fund the $750,000 project acquisition cost and exploration.

Tennant Minerals has completed a heavily oversubscribed placement to raise $4.5 million to accelerate drilling at its Bluebird copper-gold discovery.

The company will issue 100 million shares at 4.5c each.

The offer was lead managed by Westar Capital.

Iron ore developer Akora Resources has raised $3.5 million via a placement of 11.5 million shares at 32c per share.

The issue was oversubscribed.

It was managed by Harbury Advisors and Sanlam Private Wealth.

Copper company R3D Resources has launched a raising of up to $3.3 million.

The company has secured commitments for a $1 million private placement at 10c per share.

It will also launch a one-for-five rights issue to raise up to a further $2.3 million.

BPM Minerals has raised $3 million in a placement to advance drilling at its Earaheedy project.

PAC Partners was lead manager to the 21c placement, with each new share to come with a 28c option.

WA explorer Golden State Mining has completed a bookbuild to raise $2.5 million via the issue of 33.3 million shares at 7.5c each.

Euroz Hartleys was lead manager.

The proceeds will be used for gold, lithium and base metals exploration.

North America-focused PolarX has lodged a prospectus for a one-for-eight non-renounceable rights issue to raise up to $2.19 million.

Every two new 2.1c shares will come with a free-attaching option.

Copper Strike has received firm commitments to raise $1.1 million via a private placement to an investor.

The 9c issue price represented a 18.2% discount to the last closing price.

Buxton Resources has completed an in-house bookbuild to raise $1 million from existing shareholders.

The proceeds will be used to advance projects in Western Australia and the US.

Finally, Canada's A.I.S Resources has raised C$612,500 in a twice-upsized private placement for exploration on gold projects in Victoria and New South Wales.

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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