Raising funds across the Boards

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THE FUND RAISER: There’s been some happy explorers boosting their coffers this week.

$5 Million to advance Brazilian iron ore projects

Centaurus Metals (ASX: CTM) has raised $5 million through a share placement to existing and new investors, underpinned by its cornerstone shareholders Atlas Iron (ASX: AGO) Liberty Metals & Mining Holdings.

Centaurus said it also intends to undertake a Share Purchase Plan on the same terms to enable existing shareholders to participate in this capital raising.

The SPP will raise up to a further $2 million.

The funds raised will enable Centaurus to maintain the current development momentum at its flagship Jambreiro iron ore project in south‐east Brazil while it completes a main debt and equity funding package to facilitate the project’s development.

$1.9m Government grant milestone payments

Carnegie Wave Energy (ASX: CWE) has completed the final foundation milestone and a progress milestone for the onshore plant component of the company’s Perth Wave Energy project with the receipt of $739,862 from the Western Australian State Government and just under $1.17 million in payment claims submitted to the Australian Government.

Carnegie received $739,862 for completion of two milestones from the Western Australian State Government under its LEED Grant.

The milestone payments were awarded for Carnegie’s progress on the onshore plant and the completion of the foundations for the Perth project.

Carnegie has submitted milestone payment claims worth $1,165,921 for the completion of these milestones to the Australian Government under its grant from the Australian Renewable
Energy Agency (ARENA) Emerging Renewables Program.

Placement and Rights Issue

Horseshoe Metals (ASX: HOR) announced plans for a placement and rights issue to raise up to $2.05 million to continue its targeted exploration at the company’s copper-gold projects in the Peak Hill Minerals Field of Western Australia.

The company has entered into placement and subscription agreements with Michael Fotios, a director of the company, and/or his nominees (Placees) to raise $630,000 via the issue of just over 20.6 million shares at approx. 3.05 cents per share, a premium to current share price.

The Placees may also elect to subscribe for an additional approx. 13.76 million shares at 2 cents per share to raise $275,238.

Horseshoe Metals undertake a 2 for 3 non-renounceable rights issue at an issue price of 2 cents per share to raise approx. $1.15 million.

Funds raised will be used to drill high-priority targets at the Kumarina project and follow-up exploration at the nearby Horseshoe Lights project.