29/07/2019 - 10:57

Juniors raise $7.3m

29/07/2019 - 10:57

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Kingwest Resources has raised $4 million via a share placement, while St George Mining has also completed a share placement, raising $3.3 million.

Juniors raise $7.3m
Kingwest raised the funds as part of its million acquisition of the Menzies gold project.

Kingwest Resources has raised $4 million via a share placement, while St George Mining has also completed a share placement, raising $3.3 million.

Kingwest raised the funds as part of its $8 million acquisition of the Menzies gold project from Intermin Resources, which it announced earlier this month.

Under the placement, Kingwest raised shares at 15 cents each, a 6 per cent discount to its previous closing price.

Peloton Capital were lead managers to the placement.

St George Mining raised $3.3 million to fund exploration at its Mt  Alexander  nickel‐copper sulphide project, located in the north‐eastern Goldfields.

The placement price of 10 cents per share was a 13 per cent discount to its closing price 11.5 cents each the day prior to the announcement of the capital raising on July 19.

Argonaut was lead manager to the placement.

Shares in Kingwest surged 18.8 per cent to trade at 19 cents each at noon.

Shares in St George were down 2.6 per cent to trade at 11 cents each at noon.

 

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