Small cap resources trio launch raisings
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ASX-listed resources outfits New World Resources, Black Cat Syndicate and Octanex Ltd landed in front of small cap fund managers on Monday morning, on the hunt for cash injections.
A trio of resources outfits were raising money on Monday.Â
Louise Kennerley
First cab off the rank was copper explorer and developer New World, which had Canaccord Genuity in its corner for a $15 million raising.
The two-tranche placement was priced at 10¢ a share, which represented a 9.1 per cent discount to New Worldâs last close and a 4.7 per cent discount to the 10-day VWAP, according to terms in front of fund managers.
Black Cat Syndicate (ASX:BC8) gold resource tops one million ounces
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Black Cat Syndicate s (BC8) new gold resource for its Imperial, Majestic, Sovereign and Kal East Gold assets has reached over one million ounces
It forms part of a 14.3 million tonnes at 2.2 g/t gold total mineral resource, which has been fuelled by a combination of discovery, acquisition and extensional drilling
Exploration has given way to new drill targets for the explorer and efforts to further resource upgrades at Fingals Fortune, Fingals East, Jones Find and Rowe’s Find are underway