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Atom raises $10m

PERTH-BASED uranium explorer Atom Energy Ltd has closed its initial public offer fully oversubscribed, raising $10 million to fund exploration of its Northern Territory tenements. The company offered 26.7 million shares at 30 cents each to raise the money, as well as accepting oversubscriptions of $2 million. Atom aims to take advantage of four uranium tenements, three of which have already been granted to the company. Summit Resources director Lindsay Colless chairs the company, with former West Australian Metals chief executive David Hamlyn serving as managing director. Atom retained Montagu Stockbrokers as its sponsoring broker and lead manager, while Trident Capital acted as corporate advisers. -Andrew Hobbs Swick, Jupiter raise capital SWICK Mining Services Ltd and Jupiter Energy Ltd have completed capital raisings that brought in a total of $24 million. Swick has finalised a $20 million share placement to institutional and sophisticated investor clients of Euroz Securities to fund the building of additional drill rigs. The company’s underground diamond drilling division plans to build an additional 30 underground diamond drill rigs over the next 18 months to the end of December 2008. It will also use the funds to strengthen its balance sheet. Meanwhile, West Perth-based Jupiter has finalised a placement to raise $4 million for evaluation and acquisition of oil and gas projects in Kazakhstan. The company, which issued 100 million shares at four cents each, will also issue an additional 100 million options to investors at 0.1 cents each to raise an additional $100,000, as well as issuing one free attaching option for every share bought under the plan. Funds from the offer will be used to open an office in Kazakhstan, hire local resources and carry out detailed due diligence, including 3D seismic studies, on a range of exploration permits.

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