CAPITAL MARKETS

Capital Watch: Legend, Revolver and more

An extremely busy start to May for juniors hunting funds

Staff reporter
Capital Watch: Legend, Revolver and more

Nickel explorer Legend Mining has received binding commitments to raise A$6 million at 4.1c per share.

Major shareholders Creasy Group and IGO participated to maintain their stakes.

Euroz Hartleys acted as lead manager.

Revolver Resources Holdings has announced a $5 million capital raising to accelerate exploration at its Osprey and Dianne projects.

The company has received binding commitments to raise $2 million in a placement priced at 13c per share and including one-for-two options.

Revolver also executed a binding term sheet for a $3 million convertible loan facility with existing shareholder Kamjoh.

Impact Minerals has raised $4 million via a placement, which included a $3 million subscription from major shareholder Deutsche Balaton.

The issue price is 1.2c per share, a 5% premium to the 15-day volume-weighted average price.

It comes after the company exercised an option over the advanced Lake Hope high-purity alumina project.

West Africa-focused explorer Mako Gold has secured binding commitments to raise $2.6 million and will launch a follow-on option offer to raise up to a further $678,000.

Dundee Corporation participated in the placement to maintain its 9.6% stake.

Discovery Capital Partners and Euroz Hartleys were joint lead managers.

Akora Resources, which is developing iron ore projects in Madagascar, has announced a placement to raise $793,000 and a one-for-five non-renounceable entitlement offer to raise up to a further $2.31 million.

Entitlement offer subscribers will receive an option for every two new shares.

Harbury Advisors is lead manager to the offers.

Copper explorer QMines has received firm commitments to raise $3 million, exceeding the $2.5 million target.

Whairo Capital and Sanlam Private Wealth acted as joint lead managers.

The proceeds will fund work at the Mt Chalmers project in Queensland.

Riedel Resources has launched a $3 million raising for drilling at the Kingman gold project.

The company has received commitments for a placement in two tranches to raise $2.5 million, managed by Canaccord Genuity.

It will also launch a share purchase plan to seek up to a further $500,000.

China's Fuyang Mingjin New Energy Development Co will make a $2.6 million investment in lithium brine explorer Power Minerals.

The 40c per share investment will give Mingjin 8.9% of Power.

Omnia Metals Group has raised $2.25 million in an oversubscribed placement to fund its maiden exploration project at the Lac des Montagnes project in Canada.

New shares were issued at 20.5c each, a 20% discount to the 15-day VWAP.

Lithium explorer Cygnus Metals has received $1.82 million via the exercise of options by directors, management and advisors.

The company now has $8.7 million cash to fund work at the Pontax lithium project.

Native Mineral Resources has launched a one-for-two non-renounceable entitlement offer to raise $1.8 million.

New shares are being offered at 3c each, a 25% discount to the last closing price.

Resource Base has raised $1.32 million in a placement at 12c per share.

The funds will be used for exploration in Quebec and Victoria.

Killi Resources has launched a non-renounceable entitlement offer to raise $1.4 million for gold exploration.

The 5.5c per share offer is being underwritten by Canaccord Genuity.

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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