Confederation Minerals has reached an agreement to raise C$2.2m ($1.71m) in a non-brokered private placement of four million units, with each unit comprising one common share and one-half share purchase warrant.

Each unit is priced at C$0.55 ($0.42), while each warrant can be exercised into one common share in the capital of Confederation at a price of C$0.75 ($0.58) a share for two years from closing.

Confederation Minerals is a Canadian mineral acquisition and development company.

Australian mineral exploration company Beacon Minerals plans to raise approximately A$7.5m ($5.7m) through a non-renounceable entitlement offering of 398.39 million shares priced at A$0.015 ($0.011) each.

"As part of the agreement, SQM will pay $30m in cash, while the remaining $80m will be provided to fund the development costs of the project."

Under the offer, the subscribed shareholders will have an option to purchase a share of the company at a price of A$0.025 ($0.019), which is to be exercised before 18 August 2022.

Graham McGarry and Geoff Greenhill have agreed to purchase shares worth approximately A$0.772m ($0.59m) as part of the offer, apart from sub-underwriting the issue for A$1.948m ($1.48m).

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By GlobalData

Patersons Securities is engaged as the underwriter for the offering.

Australia-based Triton Minerals has reached an agreement with China’s Shandong Tianye Mining to raise A$1.23m ($0.93m) through a placement of 25.625 million shares priced at A$0.048 ($0.036) a share.

Shandong Tianye Mining provides mineral resource exploration, development, milling, producing and trading services.

Sociedad Química y Minera de Chile has signed a joint venture agreement with Kidman Resources to purchase a 50% interest in the Mt. Holland lithium project for $110m.

As part of the agreement, SQM will pay $30m in cash, while the remaining $80m will be provided to fund the development costs of the project, including the feasibility study.

The agreement also includes the development of a lithium refinery to produce lithium carbonate/hydroxide.