Stirling, Kangaroo raising capital

West Perth companies Stirling Minerals and Kangaroo Resources have announced capital raisings worth $114 million to fund their international growth plans.

Stirling has lodged a prospectus to issue 320 million shares at 30 cents, to raise $96 million, to fund its purchase of DMC Mining from Cape Lambert Resources.

DMC's main asset is 80 per cent of the Mayoko iron ore project in the Republic of Congo.

The deal is subject to shareholder approval at a meeting on 20 December.

Separately, Kangaroo said it has secured a significant new cornerstone investor group through a $23.8 million share placement.

The funds will be used to pay out the unconverted note holders, leaving the company debt free, and to progress its Mamahak coking coal project in Indonesia.