Deals this week: Pengxin International Mining, Alio Gold, Red Eagle Mining


China-based Pengxin International Mining is planning to raise CNY1.51bn ($221.35m) through a private placement of shares. 

Pengxin is a mineral exploration company engaged in the development of mineral properties, especially of copper and cobalt. 

Canadian gold mining company Alio Gold has agreed to raise C$50m ($37.81m) in gross proceeds by issuing eight million units on a bought deal basis with a syndicate of underwriters led by Cormark Securities and Clarus Securities.

Each unit is priced at C$6.25 ($4.72) and consists of a common share of Alio Gold and one-half of a common share purchase warrant. This plan gives an option to acquire one common share at a price of C$8 ($6.04) within 12 months from the date of closure of the offer. 

Underwriters are also being offered an additional 1.2 million units at the offer price.

"Underwriters are being offered an additional 1.2 million units at the offer price."

Australia-based gold-copper exploration company West African Resources plans to raise C$15m ($11.28m) through a private placement of 46,875,000 ordinary shares priced at C$0.32 ($0.24) a share. 

Underwriters are allowed to subscribe for an additional 7,031,250 shares to raise C$2.25m ($1.69m), which will increase the total gross proceeds to C$17.25m ($12.97m).

Sprott Capital Partners is the underwriter for the offering.

Canada-based zinc projects developer Zinc One Resources has acquired the Bongara zinc-oxide project and the Charlotte Bongara zinc-oxide project for $1.15m.