Deals this week: Argosy Minerals, Castle Silver Resources, Coeur Mining
Australia-based exploration company Argosy Minerals has announced that it will raise A$1m ($745,000) through a share purchase plan (SPP) from its shareholders.
Under the SPP, each shareholder will be allowed to invest up to a maximum of A$15,000 ($11,000), and subscribe for new ordinary shares priced at A$0.073 ($0.054) a share.
Patersons Securities Limited is lead manager and underwriter for the transaction.
Canada-based Castle Silver Resources has announced the closing of the first tranche of C$500,000 ($360,000) raised through the issue of 2.5 million units priced at C$0.20 ($0.14) a unit in a private placement.
The second and final tranche is expected to close for C$250,000 ($180,000).
Each unit will comprise a common share and a share purchase warrant, which enables shareholders to purchase an additional common share of the company at an exercise price of C$0.30 ($0.22) each for a period of two years from closing.
US company Coeur Mining has announced plans to raise $250m through a private placement of 5.875% senior notes due in 2024.
The interest rate on the notes will mature on 1 June 2024, and be payable semi-annually in arrears.
Cape Lambert has announced that it has entered a binding agreement with its Zambian entity, Australian Mining Company Zambia (AMCZ), to earn a 70% interest in the Kitwe cobalt/copper tailings project in Zambia.
Cape Lambert will pay $25,000 upon execution of the terms sheet and will spend $500,000 within six months to complete the acquisition.
The company expects to become a significant player in the cobalt sector following the acquisition.