Deals this week: Ariana Resources, WPG, Baralaba Coal Company


UK-based exploration and development company Ariana Resources has issued 10,030,770 new ordinary shares, priced at £1.30 ($1.65) each to raise approximately £1.87m ($2.39m).

Underwriters for the offering are Beaufort Securities and Panmure Gordon (UK).

Ariana is involved in the development of epithermal gold-silver and porphyry copper-gold deposits.

Australia-based mineral resources company WPG Resources  has revealed plans to raise approximately A$5.4m ($4.12m) by issuing up to 113.2 million shares at a price of A$0.048 ($0.037) a share in a non-renounceable entitlement offer.

The company has engaged Veritas Securities Limited as the transaction broker. 

"Cash finders were paid fees of C$76,000 ($57,474) along with 844,444 non-transferable warrants."

Baralaba Coal Company is planning to issue approximately 313 million new shares priced at A$0.25 ($0.19) a share to raise up to A$78.3m ($59.63m) under a two for one pro-rata renounceable entitlement. 

BCL has received pre-commitments from existing shareholders Liberty Metals & Mining Holdings, Maylion (Noble), and Harum Energy Australia for the entitlement offer. 

Based in Australia, Baralaba Coal is a mining, exploration and development company.

Canada-based junior graphite mining company Focus Graphite has issued 11,666,666 flow-through common shares at a price of C$0.09 ($0.068) a share to raise C$1.05m ($0.79m) in a private placement.

Cash finders were paid fees of C$76,000 ($57,474) along with 844,444 non-transferable warrants, in addition to a right to acquire a common share of the company at C$0.09 ($0.068) a share until 20 June 2019.