Deals this week: Australian Potash, Zinc of Ireland NL, Signature Resources

18 May 2018 (Last Updated May 18th, 2018 12:36)

Australian Potash (formerly Goldphyre Resources) has issued 43.2 million new shares in a private placement to raise A$3m ($2.24m).

Australian Potash (formerly Goldphyre Resources) has issued 43.2 million new shares in a private placement to raise A$3m ($2.24m).

Each share is priced A$0.07 ($0.05).

The subscribers will receive a free attaching option for every two placement shares as part of the transaction. The options can be exercised at a price of A$0.12 ($0.08) within three years from the issue date.

The Australian mineral exploration company has engaged Hartleys as the broker for the transaction, and Patersons Securities as its co-manager.

Zinc of Ireland has agreed to raise A$1.75m ($1.31m) by issuing 350 million shares priced at A$0.005 ($0.003) a share in a first tranche private placement.

A listed ZMIOC option will also be issued on a 1:1 basis for every share issued, as part of the placement.

The company further intends to issue 350 million shares priced at A$0.005 ($0.003) a share in a second tranche private placement to raise A$0.3m ($0.22m).

Based in Australia, Zinc of Ireland is engaged in mineral exploration and development.

Signature Resources has reached an agreement to acquire Lingside Property located in the Kenora District, Ontario, Canada.

Extending over 275.5ha, the property comprises 14 patented mineral rights claims.

As part of the transaction, the Canadian gold exploration company has agreed to issue five million common shares, priced at C$0.12 ($0.09) each, to the seller to raise C$0.6m ($0.46m).

Signature has granted a 3% net smelter returns royalty to the seller on the minerals produced from the property, with an option to repurchase one-half of the royalty for C$1.5m ($1.17m) at any point of time.

“Carrying an interest rate of 6.125%, the notes will be guaranteed by Alcoa and some of its subsidiaries on a senior unsecured basis.”

RCF VI has reached an equity financing agreement with Canadian Zinc to purchase 100 million shares of the latter priced at $0.20 a share for raising $20m.

Canadian Zinc has agreed to issue 50 million short-dated warrants, exercisable at C$0.25 ($0.19) a share until this December, as part of the transaction. If exercised, the warrants will generate an additional C$12.5m ($9.77m), or a total potential equity financing of C$32.5m ($25.42m).

RCF VI is a wholly owned subsidiary of US-based private equity firm Resource Capital Fund, while Canadian Zinc is a mineral exploration and development company.

Marifil Mines has signed an agreement with Minera Esperanza to acquire two lithium properties in the Province of Catamarca, Argentina.

Based in Canada, Marifil Mines is engaged in the exploration of precious, base metals and potash, while Minera Esperanza is an Argentinean private company.

Alcoa Nederland has announced plans to raise $500m in a private placement of senior notes due 2028.

Carrying an interest rate of 6.125%, the notes will be guaranteed by Alcoa and some of its subsidiaries on a senior unsecured basis.

Based in the Netherlands, Alcoa Nederland is a subsidiary of Alcoa Corporation. It is engaged in the production of aluminium, fabricated aluminium, and aluminium combined products.

Troilus Gold (formerly Pitchblack Resources) has reached an agreement to raise C$10.01m ($7.82m) by issuing 4.07 million flow-through (FT) shares priced C$2.46 ($1.92) each in a bought-deal private placement.

The company has further agreed to raise C$7m ($5.47m) in a private placement of 3.85 million traditional FT shares priced at C$1.82 ($1.42) a share.

Troilus Gold has engaged GMP Securities and National Bank Financial as underwriters for the transaction.

Based in Canada, Troilus Gold is a development-stage mining company engaged primarily in re-start mines and mineral expansion.