15/05/2019 - 10:31

Juniors raise $12m

15/05/2019 - 10:31

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Three juniors in the resources sector, including Breaker Resources and Saturn Metals, have raised $12.1 million via share placements, with the funds set to go towards each of their exploratory drilling programs.

Juniors raise $12m
Breaker Resources has raised $6.3 million at placement price of 30 cents

Three juniors in the resources sector have raised $12.1 million via share placements, with the funds set to go towards each of their exploratory drilling programs.

Breaker Resources announced it raised $6.3 million at placement price of 30 cents, which represents an 11.7 per cent discount to its volume weighted average price over the last 10 days of trade, prior to the company’s trading halt on 13 May 2019.

In a statement, Breaker said the funds would be used for further drilling as part of Breaker’s strategy to extend the existing 1.1million ounces of its Bombora Resource within its Lake Roe gold project near Kalgoorlie.

Bell Potter Securities acted as lead manager and bookrunner to the placement.

Saturn Metals, located in West Perth like Breaker, raised $1.5 million at a placement price of 21 cents, which represents a 9 per cent discount to its five-day volume weighted average price.

Proceeds will go towards drilling geared at the next upgrade of its Apollo Hill mineral resource.

Patersons Securities acted as lead manager to the placement.

Adelaide-based Elixir Energy, formerly Elixir Petroleum, raised $3.5 million at 3.6 cents each, a 10 per cent discount to its previous closing price, with the funds to go towards its seismic and corehole drilling program for this year.

Nascent Capital Partners and Originate Capital were the joint lead managers.

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