Aurora Minerals has closed its fully underwritten 1-for-1 entitlement offer, raising $1.17 million at 1 cent a share. The offer was heavily undersubscribed, with only $258,630 in subscriptions, while the shortfall of 91,270,212 shares was issued to the underwriter.
Sundance Resources and Austsino Resources Group have renegotiated the funding agreement announced in September last year. The size of funding that Austsino will provide to Sundance has be reduced from $58 million to $29 million. Of this, $25 million will be used in a planned restructure of existing convertible notes on issue, with those debts cancelled with a combination of cash, shares, and options.
Element 25 has announced that it has granted RareX Pty Ltd the option to acquire the Cummins Range project for up to $3 million.
Accelerate Resources has executed a tenement sale agreement to sell 100% of title and rights of the Bulgera Gold Project to Norwest Minerals Limited, for a consideration of $220,000.
Calidus Resources has completed the purchase of tenement E45/5172, which covers most of the historic Marble Bar Goldfield. The company has also purchased the remaining 50% of tenement E45/4843, which covers the historic Salgash mining area of the Warrawoona Goldfield, and has earned 70% of the Novo tenements, which comprise tenements E45/3381, E45/4666, E45/4622, E45/4194, P45/2781, E45/4934.
Calidus previously signed binding agreements to acquire the final 50% of tenement E45/4843 and 100% of tenement E45/5172 for a total consideration of $95,000 and 1,860,000 shares. This agreement has been re-negotiated to help preserve cash for exploration and as such a revised amount of $55,000 and 5,000,000 shares will be issued to Epminex for the completion of these purchases.
Under the terms of the previously announced earn-in on the Novo tenements (E45/3381, E45/4914, E45/4622, E45/4666, E45/4934 and P45/2781), Calidus had to spend $2m over three years on the tenements to earn to 70%. This has now been completed.
Kingwest Resources has issued 606,060 shares to a drilling contractor in lieu of payment for services rendered. The shares have a deemed value of 16.5 cents a share.
Intermin Resources has announced plans to divest its Menzies and Goongarrie gold projects to Kingwest for a consideration of $3.3 million in cash and $4.6 million in shares.
Audalia Resources has raised $600,000 through a placement at 1.2 cents a share.
Corazon Mining has closed its share purchase plan, raising $500,000 at 0.3 cents a share
Castillo Copper has announced plans to acquire five copper projects in Zambia. Consideration consists of $50,000 in cash and 31.25 million shares.
Korab Resources has placed 5 million shares at 3.1 cents a share, raising $155,000.
Eve Investments has completed a placement to raise $750,000 at 0.5 cents a share.
Mission NewEnergy has announced plans to acquire Pilbara Metals Group in a reverse takeover deal. Mission will issue 99 million shares to PMG and plans to raise $6 million through a public offering at 3.5 cents a share.
Peninsula Mines has entered into an agreement with Battery Minerals Resources to merge all their tenements in South Korea into one company – Korea Graphite Company. The proposed merged assets comprise all of the graphite assets of KGCL including Gapyeong, Yongwon, Daewon, Euhna, Wolmyeong and Goseong, and all the graphite assets of BMRK including Geumam, Taehwa and new areas under application. Upon completion, BMR will own 55% of the merged entity and PSM will own 45%.
Rent.com.au has raised $1.5 million through an entitlement offer at 3.6 cents a share. Only $110,803 of shares were taken up under the offer, with the remainder placed to the underwriter Pinnacle Corporate Finance.
Marenica Energy has announced plans to acquire Optimal Mining's Australian uranium assets for a total consideration of $250,000 and 27.5 million shares.