Several Australian mining companies have announced capital raises to fund exploration and development projects. Nimy Resources (ASX: NIM) completed a $2.75 million placement to fund exploration at its Block 3 gallium discovery. The placement involved issuing 32.35 million shares at $0.085 per share, along with unlisted options. Charles Street and GBA Capital acted as joint lead managers for this placement.
Koba Resources (ASX:KOB) is raising $1.7 million to fund its upcoming drilling program at the Yarramba Uranium Project in South Australia. The company has secured firm commitments for $600,000 through a placement of 16.67 million shares at $0.036 per share. Additionally, Koba is targeting an additional $1.1 million through a renounceable entitlement issue. Cygnet Capital will act as the lead manager for the placement and the entitlement issue.
In other news, Ardea Resources (ASX:ARL) has received a $1.2 million tax refund from the Australian Tax Office (ATO) under the research and development incentive program. The grant was awarded for critical minerals studies undertaken across its Kalgoorlie Nickel Project, specifically related to testing the company’s mineralised neutraliser hypothesis.
