Small caps Rox, Battery Age, Pantera and Ecofibre rattle the tin

afr.com:

Fund managers were assessing four capital raisings on Tuesday morning as a trio of ASX-listed explorers and a traffic management operator entered trading halts.

The ASX was awash with capital raises on Tuesday morning. Jim Rice

Listed gold and nickel developer Rox Resources was seeking $7 million via a share placement to advance its Youanmi Gold Project in Western Australia.

Funds would also be used for feasibility studies, transaction costs and general working capital. The $75 million company’s flagship project is Youanmi, which it acquired through a joint venture in April 2019.

The offer was priced at 20¢ per share, an 11.1 per cent discount to the last traded price and a 12.5 per cent discount to the 15-day VWAP.

Canaccord Genuity and Rawson Lewis were joint lead managers on the offer. Bids into the placement were due by 3pm on Tuesday.

Also seeking funds were WA minerals explorer Pantera Minerals and battery metals explorer Battery Age Minerals.

Battery Age Minerals operates the Falcon Lake Lithium Project in Ontario, Canada. The company is seeking to raise $4 million via its joint lead managers Canaccord Genuity and Euroz Hartleys.

The offer was structured as a single trance placement, completed via a block trade of up to 11.7 million new shares at 34¢ per new share. This reflects an 18.1 per cent discount to the last traded trade and a similarly sized discount to the 5-day VWAP. Proceeds will be used for exploration at Falcon Lake, according to the term sheet sent to potential investors.

Elsewhere, Pantera Minerals was seeking to raise $2 million via a two-trance placement at 7¢ per share. The Perth-based iron ore, copper, gold, manganese and base metals explorer will use the proceeds to acquire a 35 per cent