Zenith Energy has closed its share purchase plan with applications totalling $220,000 of the total $5 million that was offered.
Arrow Minerals has announced a deal to acquire Boromo Gold, which holds six exploration assets in Burkina Faso, in a scrip deal worth $2.9 million. The company also announced plans to raise $2 million through a placement at 1 cent a share.
Force Commodities has sold its shareholding in Marquee Resources on the market for a total of $225,000. Force Commodities has also completed the sale of its Mt Adrah Gold Project in New South Wales for a total cash consideration of $250,000.
Comet Resources has completed a placement to raise $1.1 million at 3 cents a share.
Ardea Resources has announced that it plans to demerge its Lachlan Fold Belt gold and base metals assets by way of an IPO of subsidiary Godolphin Resources. Ardea sharesholders will receive 30 million shares in the new entity by way of an in-specie distribution. The initial public offer aims to raise from $4.5 million up to $8 million at a price of 20 cents a share.
Kogi Iron’s entitlement offer has closed raising $874,449 by way of issuing options at 1 cent an option. The shortfall of $448,840 will be placed with the underwriter Paterson Securities.
Golden Deeps has raised $610,500 through the exercise of unlisted options with an exercise price of 1.5 cents each.
Indus Energy has announced plans to acquire New Era Oil and Gas in a reverse takeover deal. New Era shareholders will receive 100 million post-consolidation shares and Indus will offer 200 million shares at 2 cents a share to raise $4 million through a public offer.
Indiana Resources has raised $300,000 through a placement at 2.4 cents a share. The company plans to raise up to $1.3 million in an entitlement offer at the same price.
Venture Minerals has closed the retail component of its entitlement offer, with acceptances totalling $1.4 million. The $1.7 million shortfall has been placed with the underwriter Patersons Securities.
SUDA Pharmaceuticals has completed its entitlement offer, raising $3.4 million at 0.4 cents a share. The board has decided to make an additional placement to bring the total raised to $3.9 million.
Spectur has raised $1.6 million through a placement at 13 cents a share.
Bass Metals has announced a convertible notes issue of up to $4 million, with a first tranch of $1.4 million and further commitments of $1.1 million.
De.Mem has raised $1.9 million through a placement at 14 cents a share.
The administrator of MZI Resources, McGrathNicol, have announced a deal for the sale of MZI’s Keysbrook mineral sands mine to Doral Mineral Sands for $32 million plus future landholder obligations.
Vimy Resources has raised $1.8 million through a placement at 5 cents a share.
Sun Resources has announced a placement to raise $150,000 at 0.2 cents a share.