Global Uranium and Enrichment (ASX:GUE) is among the explorers this week heading to market as it seeks to boost its cash pile by $10 million.
The company intends to use the funds raised for the acquisition and development of the Pine Ridge In-Situ Recovery Uranium Project in the US. Global Uranium and Enrichment and Snow Lake Energy (NASDAQ:LITM) entered into a joint venture agreement for acquiring Pine Ridge.
Snow Lake has agreed to invest $5.8 million in the placement, and upon settlement, will have a 19.9% stake in the company.
Under the placement, being managed by Canaccord Genuity, 153.8 million shares will be issued at $0.065 per new share, representing an 8.5% discount to the last traded price of $0.071 as of 10 March 2025.
The placement, expected to be settled on 17 April 2025, is subject to shareholder approval and completion of due diligence.
Kalgoorlie Gold Mining (ASX:KAL) is conducting a placement to raise $4 million to fund exploration activities at the Pinjin Gold Project and Lighthorse discovery in Western Australia.
As part of the placement, 66.7 million shares will be issued at $0.06 per share, representing a 9.1% discount to the 10-day volume weighted average price up to and including 10 March.
Canaccord Genuity will act as lead manager and bookrunner to the placement, while Palomar Advisory and Peak Asset Management will act as co-lead managers.
The company intends to conduct a follow-up aircore drilling program in late April to test the strike extent of the Lighthorse discovery.
Resolution Minerals (ASX:RML), meanwhile, had received firm commitments from sophisticated investors to raise $1.7 million to further develop its antimony projects and for general working capital.
Under the placement, participants can purchase shares at $0.011 per share and will also receive one option for every two shares issued for no additional consideration.
The options will be exercisable at $0.018 per share and expire on 31 July 2028.
Oakley Capital Partners is acting as lead manager to the placement.
Finally, Verity Resources (ASX:VRL) has raised $307,500 as part of the proposed $1.5 million placement to advance the Monument Gold Project in Western Australia.
The company has received firm commitments for a placement priced at $0.012 to sophisticated investors.
Participants will also receive one free attaching unlisted option for every two shares subscribed for. The options will be exercisable at $0.022 per share within three years.
The funds will be used to conduct infill and step out drilling programs at the Korong and Waihi resource estimates, as well as for general working capital requirements.
Write to Aaliyah Rogan at Mining.com.au
Images: Global Uranium and Enrichment
