ASX listed lithium hopeful Arizona Lithium is asking investors for $23.2 million to help progress its Big Sandy project in the United States. Stockbrokers Evolution Capital and PACPartners launched the equity deal on Wednesday morning, seeking buyers at 12.5¢ a share. The deal was at a 16.7 percent discount from the last close. Shares sold had an attached option, on a one-for-two basis, exercisable at 18¢ in the coming two years.
There’s movement on the share register at TerraCom Resources, which has been facing coal result tampering allegations. A line of 64 million shares changed hands in an after-market crossing on Friday, worth some $24 million. The trade was done at 38¢ a share and Evolution Capital is understood to have been the broker.
Term sheets were flying on Tuesday morning as a handful of resources juniors tried to make the most of favorable equity market conditions. Lithium explorer Xantippe Resources, gold play Ora Banda Mining, and Cobar-focused Manuka Resources each had term sheets in the market, seeking fresh funds from equity investors.
Lister explorer Blackstone Minerals, which is looking for nickel and platinum group elements in Asia, is seeking $50 million in fresh funds. The placement was priced at 58¢ per share, a 16.5 percent discount from the last traded price of 69.5¢. It was split into two tranches, with 44 percent of the new shares covered in the first tranche. Blackstone plans to follow the placement with a share purchase plan worth up to $5 million. The company plans to spend $30 million of the raise on its pilot plant phase 2, $10 million on
Stockbroker Evolution Capital is trying to raise $15 million for ASX-listed gold/lithium play Nova Minerals, in a rare weekend placement that opened at midday on Sunday. The broker was seeking buyers for 90.9 million new Nova Minerals shares at 11¢ each, in a deal that valued the company at $194.9 million on a market capitalisation basis. The initial deal, worth $10 million, was upsized to $15 million on Sunday afternoon, investor sources said. The stock last traded at 14¢. Nova Mineralsshares were expected to go into a trading halt on Monday, while the raising takes plac
Liontown Resources is set to list its wholly owned subsidiary Minerals 260, raising between $15 million and $30 million via an IPO. Minerals 260 houses Liontown’s gold, nickel and cooper Moora and Koojan joint venture projects, as well as the Dingo Rocks Project and Yalwest tenement applications. The demerger will allow the company to create a structure that will enable Minerals 260 to have the dedicated resources and capital needed to advance its assets.
