22/01/2018 - 17:44

Corporate finance deals Jan 15 to Jan 19 2018

22/01/2018 - 17:44


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Emerging Goldfields explorer NTM Gold Limited (ASX: NTM) (“NTM” or “the Company”) is pleased to announce it has raised $1.5 million in a heavily oversubscribed placement of new shares. The new shares were priced at 5¢, a modest 8% discount to NTM’s pre-trading halt close of 5.4¢ on January 11. The equity raising was led by Argonaut, had targeted $1.25 million at 5¢ a share. However, commitments from sophisticated investors were significantly higher, prompting NTM to agree to increase the raised amount to $1.5 million at 5¢.


 Pacific Bauxite Limited (ASX: PBX) (“Pacific Bauxite” or “Company”) is pleased to announce it has acquired two Exploration Licence Applications which comprise the Darling Range Bauxite Project, located in the Darling Ranges northeast of Perth in Western Australia (“Project”). In consideration for assisting the Company to acquire the Project, Pacific Bauxite agreed to: issue 1,000,000 fully paid ordinary shares in Pacific Bauxite to Nearology Pty Ltd (”Nearology”) which were issued on settlement; and pay Nearology a one-off cash payment of $30,000, with payment deferred subsequent to any future equity capital raising by Pacific Bauxite.


Helix Resources Limited (ASX:HLX) is pleased to announce that it has divested its diluting interest in the noncore Yalleen Iron Ore Project (YIOP) JV. The YIOP hosts the Kumina Creek West and Robe Exit Channel Iron Deposits (CID). The YIOP also forms part of the larger West Pilbara Iron Ore Project (WPIOP), located in the West Pilbara region of Western Australia. In exchange for its diluting interests in the YIOP JV and all of Helix’s other rights and interests in the YIOP tenements the Company will receive total consideration of:  A$0.5 million cash payable upon sale completion;  an uncapped 1% free on board (FOB) royalty on any iron ore produced from the Yalleen Tenement Area (E47/1169, E47/1170 & E47/1171); and  an uncapped 1% net smelter royalty (NSR) on certain future precious and base metal production from the Tenement Area.


 King River Copper Limited (“King River Copper” or “the Company”) (ASX :KRC) is pleased to announce that it has received firm commitments for the placement of 40,000,000 shares at $0.03 to raise $1,200,000 from professional and sophisticated investors.


WA-focused gold exploration company Latitude Consolidated Limited (ASX: LCD) (“Latitude” or “the Company”) wishes to advise that it has entered into a binding Heads of Agreement (“HOA”) with Alt Resources Limited (ASX: ARS) (“Alt”) for the sale of its Mt Ida Project tenements located approximately 200km north-west of Kalgoorlie in Western Australia. The sale will be a disposal of 100% of the issued capital MGK Resources Pty Ltd (Latitude’s wholly owned subsidiary) to Alt on completion of the agreement. The sale includes all gold projects (the “Projects”) comprising the Mt Ida tenement package, including the Quinn’s Mining Centre (QMC), Mt Ida South and the Mt Ida joint venture projects respectively. Consideration of A$1M cash and A$1M in Shares and Options in Alt Resources



Avanco Resources is pleased to announce that it has agreed terms for an option (The Option) to acquire 100% of the Pantera Copper Project (Pantera) from Vale S.A. (Vale). SUMMARISED TRANSACTION TERMS • Non-refundable US$500,000 on signing of the “Pantera Acquisition Option”. (Completed) • The Option provides Avanco the right to acquire 100% of Pantera by either: a) Completing 14,000 metres of drilling within two years and subsequently agreeing JORC compliant Measured and Indicated Resources hosted within the whole of the Historical Mineralised Zone*. Thereafter establishing the “Acquisition Price” calculated at $0.04/lb of contained copper**. Avanco can then exercise The Option by beginning payment of the acquisition monies to Vale. Following the exercise of The Option, beyond two years and up to five years, Avanco shall complete the drilling in the Historical Mineralised Zone and any contained copper in addition to 400,000 tonnes will incur a higher Acquisition Price based on an incremental cost of $0.06/lb of copper, or b) The Option can be exercised at any time (with or without drilling) by agreeing an Acquisition Price based on a non-JORC compliant estimation of 400,000 tonnes of contained copper within the Historical Mineralised Zone*, valued at US$0.04/lb of copper. • In both cases, payment of the Acquisition Price to Vale are capped at $3 million per annum. Management estimate the acquisition cost will likely range between US$20 million and US$35 million, determined largely by the strategy adopted in a) or b) above. Consequently, it is anticipated that the payment period will be spread over a 7 to 12 years period.


 Saracen Mineral Holdings (Saracen) and Nexus Minerals (Nexus) sign Binding Term Sheet - for Nexus to acquire the Wallbrook Gold Project. Saracen, through its subsidiary, Saracen Gold Mines, has agreed to subscribe for 3,800,000 of Nexus shares at a price of 8.4 cents per share and a 1 for 2 attaching option for a consideration of approximately $320,000, and Nexus will acquire the Wallbrook exploration tenements for consideration of 1,490,000 Nexus shares. Following both transactions, Saracen will hold an approximate 6% equity stake in Nexus.


 Draig Resources has executed the option agreement with Croft Mining Pty Ltd and Weebo Exploration Pty Ltd to acquire six exploration licences and a further exploration licence that is currently an application upon successful grant of that application (Tenements). On completion, which is expected to occur in the next couple of weeks, Draig will pay the $100,000 and 3,000,000 fully paid ordinary shares in Draig for the Tenements.


Spitfire Materials Limited (ASX: SPI) is pleased to advise that it has successfully raised a total of $5.33 million to fast-track its Australian gold exploration and development strategy. The Company has received firm commitments to undertake a share placement to existing and new sophisticated and professional investors comprising 53.3 million shares at an issue price of $0.10 per share to raise a total of $5.33 million before costs (Placement).


Further to the Company’s announcement of 11 January 2018, TikForce Limited (ACN 106 240 475) (Company) is pleased to advise it has completed a placement of 10,000,000 fully paid ordinary shares (Placement Shares) at an issue price of $0.015 per Placement Share to raise $150,000 from sophisticated and professional investors, together with 10,000,000 free attaching options exercisable at $0.03 on or before 31 October 2020 (Placement Options) (attaching to each Placement Share on a one for one basis) (Placement).


 Mincor Resources has closed its share purchase plan, which was heavily oversubscribed with $12.9 million in applications. The directors have agreed to accept an additional $1 million in oversubscriptions, to raise $4 million in total. Share have been issued at the price of 32 cents a share.


Mission NewEnergy Limited (ASX: MBT) (“Mission” or the “Company”) announces today that it has terminated the agreement signed to acquire the business operations of the AUS Group (“AUS”, “VENDORS”), a leading manufacturer of building materials products in Australia.


Base Resources Limited (ASX & AIM: BSE) (Base Resources) is pleased to announce successful close of the retail component (Retail Entitlement Offer) of the 1 for 3 accelerated renounceable pro rata entitlement offer announced on Tuesday, 19 December 2017. The Retail Entitlement Offer closed on 17 January 2018, with eligible retail shareholders subscribing for approximately 30.2 million new Base Resources ordinary shares (New Shares) at A$0.255 per share, raising gross proceeds of approximately A$7.7 million.


 Alexium International Group Limited ("Alexium," "the Company,") ASX: AJX, NASDAQ Designation: AXXIY announces the completion of its SPP Offer of new fully paid ordinary shares at A$0.35 per share (New Shares). The SPP Offer closed at 5:00pm (AWST) on Thursday, 18 January 2018. Alexium received applications from 276 registered shareholders totalling A$1.65 M, equivalent to 4,705,600 New Shares, which are expected to be quoted on 25 January 2018.


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