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Argonaut busy in lead up to EOFY!

    Home News Argonaut busy in lead up to EOFY!
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    Argonaut busy in lead up to EOFY!

    By admin | News | 0 comment | 25 June, 2015 | 0

    In addition to the Kibaran Resources, Troy Resources and Gold Road capital raisings announced earlier in the quarter Argonaut has also participated in a number of raisings in the lead up to the end of the 2015 financial year for Aspire Mining, East Africa Resources which included the acquisition of Threat Protect Australia Pty Ltd and Brumby Resources which included the acquisition of Marindi Metals Pty Ltd.

    Aspire Mining Limited

    Argonaut, as Lead Manager, was successful in the Placement of A$4.4 million for Aspire Mining Ltd (ASX: AKM) (“Aspire”) to new and existing shareholders at an issue price of A$0.02 per share, with a 1 for 2 free attaching option.

    The funds raised will be used to further explore the Nuurstei and Ovoot coking coal projects, technical studies and negotiation for rail related agreements for Northern Railways LLC, debt servicing costs and general working capital purposes.

    Additional information regarding Aspire and the Capital Raising can be found on the company’s website at www.aspiremininglimited.com.

    Brumby Resources Limited

    Brumby Resources Limited (ASX: BMY) (“Brumby”) entered into a binding agreement to acquire private Australian zinc-focussed company Marindi Metals Pty Ltd (“Marindi”) together with a capital raising and 1 for 2 entitlement issue to underpin exploration activities at the Newman Base Metal Project.

    In conjunction with the merger transaction, Argonaut, as Underwriter and Lead Manager, will undertake a $3.75M capital raising comprising a $1.25M share placement and 1 for 2 entitlement issue to raise a further $2.5M, both at an issue price of $0.01. This will ensure that the merged entity is well capitalised to pursue an exploration and development program at Marindi’s flagship asset, the Newman Base Metal Project in Western Australia.

    Additional information regarding the Acquisition and the Capital Raising can be found on the company’s website at www.brumbyresources.com.au.

    East Africa Resources Limited

    East Africa Resources Limited (ASX: EAF) (“EAF”) announced that it has signed an agreement to acquire the fast growing WA based security services firm, Threat Protect Australia Pty Ltd together with a capital raising to fund growth strategies of the business.

    The company will seek approval at a General Meeting to be held on 26 June 2015 to undertake a consolidation of issued capital on the basis of 1 share for every 4 shares held. The initial raise will be followed by a Prospectus Raising for a minimum of $5 million before costs to issue 250 million fully paid ordinary shares at a minimum issue price of $0.02 per share (post share consolidation), to which Argonaut will act as Lead Manager.

    Additional information regarding the Acquisition and Capital Raising can be found on the company’s website at www.eastafricaresources.com.au.
     

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