Deals this week: Azure Minerals, EnviroLeach Technologies, Kibo Mining

2 March 2018 (Last Updated March 2nd, 2018 09:41)

Azure Minerals has agreed to issue 27.3 million shares priced at A$0.30 ($0.23) a share under a private placement to raise A$8.2m ($6.44m).

Azure Minerals has agreed to issue 27.3 million shares priced at A$0.30 ($0.23) a share under a private placement to raise A$8.2m ($6.44m).

The company will issue shares in two tranches, with the first tranche comprising 20.5 million shares to raise A$6.15m ($4.83m) and the second tranche comprising 6.8 million shares to raise A$2.05m ($1.61m).

Patersons Securities has been appointed as the sole lead manager and Tectonic Advisory Partners as the North American manager for the transaction by Azure.

Based in Australia, Azure Minerals is engaged in mineral exploration.

EnviroLeach Technologies has agreed to raise C$10.05m ($7.93m) in a private placement of 6.7 million units priced at C$1.50 ($1.18) a unit.

Each unit will comprise one common share and one common share purchase warrant, which entitles the holder to purchase an additional common share for C$2.50 ($1.97) within two years of the issue date.

Based in Canada, EnviroLeach Technologies is a technology company engaged in the development of eco-friendly technologies for treating materials in the mining and e-Waste sectors. It is also engaged in near-term gold production.

Kibo Mining has received commitments to raise £750,000 ($1.04m) through the placement of 17 million ordinary shares priced at £0.042 ($0.058) a share.

The Ireland-based mining company is focused on the exploration and development of mineral projects in Tanzania.

Kibo has engaged Beaufort Securities as the broker for the placement.

Riversgold has reached an agreement with Westex Resources to acquire 100% interest in the latter’s Cutler gold prospect in Australia for A$110,000 ($80,000).

“The second tranche will comprise 286 million securities priced at $0.109 a unit to raise $32m.”

Based in Australia, Riversgold is engaged in gold exploration, while Westex Resources, also based in Australia, is a mineral exploration company.

The terms of the consideration include a cash payment of A$36,000 ($28,000) and issuance of 450,000 shares each worth A$72,000 ($50,000) priced at A$0.16 ($0.12) and 450,000 options.

RTG Mining plans to raise $34m through the private placement of securities in two tranches.

The first tranche will comprise 25 million securities priced at $0.109 a unit to raise $2.8m, while the second tranche will comprise 286 million securities priced at $0.109 a unit to raise $32m.

Australian, international institutional and sophisticated investors will subscribe to the placement.

Hartleys Limited and Trump Securities (the US Placement Agent) have been appointed as the placement agents for the transaction.

RTG Mining has also agreed to issue 12 million unlisted adviser options, representing 5% of gross proceeds of the private placement to the US placement agent.

Based in Australia, RTG Mining is engaged in mining and exploration.

Almadex Minerals has reached an agreement with Newcrest International to raise C$19.07m ($15.08m) through the private placement 14 million shares priced at C$1.36 ($1.07) each.

Newcrest will hold 19.9% of the total issued shares of Almadex following the placement.

Based in Canada, Almadex Minerals is a precious metals exploration company, while Newcrest International is an Australian company involved in gold exploration.