Deals this week: Mincor Resources, Plymouth Minerals, White Rock Minerals

15 December 2017 (Last Updated December 15th, 2017 10:24)

Mincor Resources has agreed to issue 18.75 million shares priced at A$0.32 ($0.24) a unit to professional and sophisticated investors in a private placement to raise A$6m ($4.53m).

Mincor Resources has agreed to issue 18.75 million shares priced at A$0.32 ($0.24) a unit to professional and sophisticated investors in a private placement to raise A$6m ($4.53m).

The company has engaged Bell Potter Securities as its lead manager for the transaction.

Based in Australia, Mincor Resources is engaged in the exploration of nickel and gold.

Plymouth Minerals has agreed to raise A$6.5m in a private placement of 36.4 million shares priced at A$0.18 each.

Based in Australia, Plymouth Minerals is engaged in the exploration and evaluation of potash, lithium, and tungsten.

The company has engaged Hartleys and Canaccord Genuity as joint lead managers for the placement.

White Rock Minerals plans to raise up to A$7.2m ($5.43m) in a private placement from Kentgrove Capital.

White Rock will issue fully paid ordinary shares over the next 36 months, including individual placements of up to A$200,000 ($150,000) under the placement.

Both companies involved in the transaction are based in Australia.

White Rock Minerals is engaged in the exploration and development of gold, silver, precious and base metal projects, while Kentgrove Capital is an investment management company.

“White Rock will issue fully paid ordinary shares over the next 36 months, including individual placements of up to A$200,000 under the placement.”

Rainbow Rare Earths has agreed to raise between £2.6m ($3.5m) and £2.8m ($3.7m) in a private placement of shares to existing institutional shareholders and new institutional investors.

The shares to be issued under the placement will be priced at £0.14 ($0.18) each.

Based in the UK, Rainbow Rare Earths is engaged in mineral exploration and development.

The company has engaged Arden Partners and Hannam & Partners (Advisory) as its joint brokers, book-runners and global co-ordinators for the placement.

Pershing Gold has agreed to raise $6.8m in a private placement of 2.43 million shares priced at $2.8 a share. In addition, the company has agreed to raise $6.8m in a public offering of another 2.43 million shares at the same price.

Pershing Gold is a Canada-based company engaged in gold exploration. The company has engaged Canaccord Genuity, BMO Nesbitt Burns and Cantor Fitzgerald Canada Corporation (CFCC) as book-runners for the offering.

Canada-based mineral explorer Resolve Ventures has entered an option agreement with two arm’s length vendors to acquire 100% interest in the Son Property, which is located 51km south-east of Houston, British Columbia, Canada.

As part of the agreement, Resolve Ventures will pay C$15,000 ($11,671) in cash upon TSX Venture Exchange approval and will spend a minimum C$1m ($0.077m) for exploration within the first year.

The vendors will retain a 2% net smelter returns royalty, with Resolve Ventures having an option to purchase 1% for C$1.5m ($1.16m).