Croesus Mining soars on $7m raising

Shares in soon-to-be transformed Croesus Mining have soared after the company completed a $7 million capital raising with shares priced at a hefty premium.

The company was offering shares priced at 85 cents each, substantially higher that the share price of 1.6 cents before the company entered a trading halt earlier this week.

The halt was lifted earlier today and shares in the company jumped 0.9 cents, or 56 per cent to 2.5 cents.

The capital raising was integral to deals negotiated between the company and Apex Minerals and prospector Mark Creasy, with the latter two agreeing spin off their WA nickel and base metal assets into Croesus.

Included in the transaction is a board restructure and a change of name to Sirius Resources, to better reflect the new direction.

The deals and placement are subject to shareholder approval.