Paringa Resources is seeking to raise $8.1 million, while Mali Lithium is on the hunt for $5.3 million, both via rights issues.
Paringa Resources is seeking to raise $8.1 million, while Mali Lithium is on the hunt for $5.3 million, both via rights issues.
Paringa will conduct a one-for-four rights issue, in addition to a $US9 million term sheet it executed with Tribeca Global Resources Credit for a 2 per cent gross royalty from a separate project
The issue price of 7 cents is a 13 per cent discount to its previous closing price.
Funds raised will go towards funding its Poplar Grove coal mine in the US as it seeks to ramp-up to a positive cash flow.
Argonaut is Paringa’s financial adviser.
Mali Lithium has launched one-for-four rights issue at 8 cents per share, a 20 per cent discount its previous closing price.
The rights issue is partially underwritten to $2.5 million by CPS Capital Group.
Funds will go towards drilling at its Goulamina lithium project in Mali.
