02/09/2019 - 15:18

Juniors to raise $7.5m

02/09/2019 - 15:18

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Pacifico Minerals, Todd River Resources and Syndicated Metals are set to raise $4.6 million, $2.9 million and $1 million, respectively.

Juniors to raise $7.5m
Mark Bennett is a non-executive director of Todd River Resources.

Pacifico Minerals, Todd River Resources and Syndicated Metals are set to raise $4.6 million, $2.9 million and $1 million, respectively.

Pacifico raised the funds via a share placement at 0.8 cents per share, representing a 9.1 per cent discount to its 10-day volume-weighted average price.

Capital raised will go towards advancing its phase 2 drilling program and a pre-feasibility study at its Sorby Hills lead-silver-zinc joint venture project with Henan Yuguang Gold and Lead Co.

Euroz acted as lead manager to the placement.

Todd River is seeking to raise $1 million via a placement, and $1.9 million via a 1-for-3 rights issue.

Both have an issue price off 3.1 cents per share, a 13.9 per cent discount to its previous closing price.

Funds will go towards advancing its Mount Hardy copper-zinc project to identify new prospects.

Hartleys acted as lead manager to the placement.

Syndicated Metals raised $950,000 via a share placement and $50,000 through a rights issue, at 8 cents per share, to undertake drilling at its Newington gold project.

JP Equity Partners were the lead manager for the placement.

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