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South Africa’s rare earths could shake up Western supply chain•Oil flares up as Middle East shipping remains vulnerable to attack•Jhonlin completes 30.25% Bayan Resources stake purchase•Arafura expands rare earth offtake deal with Traxys by 70%•Jefferies fund alleges Radiant World iron ore fraud•Ballard Mining secures $45 million for Mt Ida•Prominent Filipino families to build Philippine mining giant•Nuclear power key to Philippines growth plans, says Marcos•France to become Eramet’s top shareholder•Bank of America sees lower gold price in Q4•Gold price retreats from one-week high•Copper price hits two-week high on Chile supply risks•EnergyX signs $2.87 billion Trafigura lithium deal•Cuba denies fuel links, maintains mining ambitions•KEFI restarts Tulu Kapi after fatal incident•Hindalco plans private network at bauxite mine•Glencore reaffirms Jaguar nickel offtake commitment with Centaurus•Ethiopia launches first gold refinery through $71.53 million JV•Transformers could become UK’s next grid bottleneck•Fire halts Botnia Gold’s Fäbodtjärn production South Africa’s rare earths could shake up Western supply chain•Oil flares up as Middle East shipping remains vulnerable to attack•Jhonlin completes 30.25% Bayan Resources stake purchase•Arafura expands rare earth offtake deal with Traxys by 70%•Jefferies fund alleges Radiant World iron ore fraud•Ballard Mining secures $45 million for Mt Ida•Prominent Filipino families to build Philippine mining giant•Nuclear power key to Philippines growth plans, says Marcos•France to become Eramet’s top shareholder•Bank of America sees lower gold price in Q4•Gold price retreats from one-week high•Copper price hits two-week high on Chile supply risks•EnergyX signs $2.87 billion Trafigura lithium deal•Cuba denies fuel links, maintains mining ambitions•KEFI restarts Tulu Kapi after fatal incident•Hindalco plans private network at bauxite mine•Glencore reaffirms Jaguar nickel offtake commitment with Centaurus•Ethiopia launches first gold refinery through $71.53 million JV•Transformers could become UK’s next grid bottleneck•Fire halts Botnia Gold’s Fäbodtjärn production

The Capital Crunch: Matsa funds growth ambitions with $15 million

On this week’s Capital Crunch, ASX-listed companies seeking to secure funding packages via capital raises or drawdown debt facilities to support near-term activities, continue apace, notably for Matsa Resources (ASX:MAT). 

Matsa, which has a market capitalisation of $94.22 million, secured a $15 million funding package to expedite works at its Lake Carey Gold Project in Western Australia, via a $10 million placement and a $5 million debt facility. 

The placement is at an issue price of $0.10 per share, representing a 13% discount to the closing price of $0.115. As part of the placement, there will be 22.9 million unlisted options issued to FiftyOne Capital, exercisable at $0.13, with an expiry date of 30 September 2028. 

Under the 12-month debt facility, $5 million can be drawn down with five days notice. The facility can be repaid in cash or in gold bullion at the lender’s, Temorex, election. 

Studies will also begin on the potential for a Matsa-owned processing facility to process ore from the Lake Carey Project and other potential regional opportunities. In addition, exploration work will accelerate, where the company has previously intersected visible gold in drilling. 

Yandal Resources (ASX:YRL) is conducting a $13.5 million placement to expand and further accelerate exploration across the Caladan target area and Arrakis prospect, as well as at the Ironstone Wall-Barwidgee Gold Project. 

Under the placement, 46.4 million shares at $0.29 per share, representing a 4.4% discount to the five-day volume weighted average price on 26 September. 

Stralis Capital Partners will act as sole lead manager and bookrunner to the placement. 

Upon completion, Yandal will have $16.1 million cash at hand. 

Podium Minerals (ASX:POD) is also undertaking a share placement and entitlement offer to raise $12 million to advance the Parks Reef Project in Western Australia. 

Shares will be issued at $0.064 per share, representing a 5.2% discount to the five-day volume weighted average price. 

Parks Reef 5E PGM Project

Leeuwin Wealth and Cumulus Wealth are acting as joint lead managers to the offer. 

As part of the funds, diamond core material for pilot plant testwork, information continuity below the resource and three previously drilled intersections at 500m at depth. 

Podium, which has a market capitalisation of $65.54 million, will also begin pilot plant construction and extensive testwork program, generating operating, and product data for development modelling to accelerate feasibility studies. 

The funds will also be used to restate the resource estimate for the Range Well Nickel Project. 

Australian Mines (ASX:AUZ) has received firm commitments to raise $4 million via a strategic placement. 

Under the placement, shares were issued at $0.02 per share, together with one attached option for every two new shares subscribed for. GBA Capital and Ignite Equities will be co-managers to the placement. 

Funds will be used to drill at the Flemington Scandium project, as well as expand drilling at the Boa Vista Gold Project in Brazil and maintain general working capital flexibility. 

Write to Aaliyah Rogan at Mining.com.au   

Images: Matsa, Yandal Resources, & Podium Minerals 
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Written By Aaliyah Rogan
Originally from New Zealand, Aaliyah brings several years of experience covering the resources sector, with a focus on companies, commodities and global mining markets. Her reporting has spanned European markets and the evolving global mining landscape, with a focus on the stories and market forces driving change across the sector.