Australian Mines launches underwritten share purchase plan

Advanced battery materials developer Australian Mines (ASX: AUZ) is undertaking, by way of a prospectus, a share purchase plan to raise $5 million, with the ability to accept oversubscriptions of an additional $5 million. The SPP will be underwritten to $5 million by Patersons Securities, which is acting as lead manager to the raising.

Ansteel receives Chinese regulatory approvals for proposed Gindalbie Metals acquisition

Gindalbie Metals (ASX: GBG) has received confirmation from Angang Group Hong Kong (“Ansteel”) that the necessary record‐filing notices have been received from the National Development and Reform Commission and the Ministry of Commerce  of the People's Republic of China in respect of the proposed acquisition by Ansteel of all of the ordinary shares in Gindalbie that it does not already own.

Northern Minerals in $22m capital raising

Northern Minerals (ASX: NTU) has entered into subscription agreements to raise $15 million by way of a placement and is undertaking a 1 for 13 accelerated non-renounceable entitlement offer at A$0.045 per share to raise approximately A$6.95 million, all before costs. The Entitlement Offer will involve the issue of up to approximately 154,451,564 new fully paid ordinary shares in the Company.

Northern Minerals plans capital raising

Northern Minerals Limited (ASX: NTU) has provided an update to investors about its future capital raising initiatives following the recently announced $20 million placement, $15 million subscription and the R&D Claims update. The $20 million placement and $15 million subscription have resulted in the Company obtaining commitments to raise a total of $35 million (with $30 million received to date) and have assisted the Company to strengthen its balance sheet and to pay down some of the Company’s existing debt.

Director resigns from Mineral Resources board

Mineral Resources Limited (ASX: MIN) advises that Non-Executive Director Tim Roberts has resigned from the Company’s Board with effect from today. Mr. Roberts has indicated that the demands of his other business interests, as well as his New Zealand residence, have made it difficult for him to continue to serve the Company as a director at this time. Mr. Roberts has confirmed that he remains a supportive shareholder of the Company and has no current intention to dispose of his shareholding.

Core to raise $2m via SPP

Advanced Australian lithium developer Core Lithium (ASX: CXO) has announced a share purchase plan to raise $2 million, priced at 4 cents a share, with the proceeds to be used to fund a range of development initiatives at its Finniss lithium project in the Northern Territory. The raising has been underwritten up to $1 million by sophisticated and institutional investors.

Core Lithium in $8.1m royalty deal

Advanced Australian lithium developer Core Lithium (ASX: CXO) has entered into an agreement for the sale of a private royalty from the Finniss Lithium Project in the Northern Territory to Canadian royalty Company, Lithium Royalty Corporation. LRC will pay a total consideration of A$8.125 million for the right to receive 2.5% of gross revenue from the sale of products from Finniss.

Alice Queen executes earn-in and joint venture agreement with St Barbara

Advanced gold explorer Alice Queen (ASX: AQX) has announced its 84.5%-owned subsidiary, Kauraru Gold Pty Ltd, has entered into an earn-in and joint venture agreement with St Barbara Limited (ASX: SBM) for its Horn Island Gold Project, located in the Torres Strait in far-north Queensland. Under the terms of the deal, St Barbara has the right to earn a 70% interest in the Horn Island Project (other than identified Excluded Zones) by sole funding expenditure of $4 million within 3 years. Alice Queen will retain the right to continue pursuing exploration activities on Horn Island through to BFS in the Excluded Zones.