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Nordic Nickel (NNL) shares have held up 20 per cent above its IPO price, a day after the company made its ASX debut.  

Nordic has a portfolio of nickel projects in the Central Lapland Greenstone Belt in Finland and raised $12 million with 25-cent shares.

Managing Director Todd Ross told Deal Room access to the European market was key to the company’s strategy.

“Europe is set to become the second largest battery cell manufacturing hub outside of China,” he said. 

“Being able to deliver nickel sulphides directly into the battery metals and battery manufacturing market in Europe (we think) is a really unique value proposition.

“We’ll be putting out a resource in the next couple of months. 

“There was some historic drilling done by Outokumpu back in the 80s and 90s on our main exploration tenements, there were 51 holes drilled there and we’ve been going through that data base, re-logging, re-assaying, all that core. 

“What we know is there’s a large amount of wide mineralisation near surface disseminated nickel and we’ll be looking at putting out a maiden resource on the basis of that historical drilling that was done previously and the focus will be on the exploration techniques and using the geophysics going forward as well.”

Nordic Nickel has a market cap above $33 million and shares were trading at 30 cents as of 2:10pm AEST.

Navarre Minerals (NML) opens a $5 million share purchase plan next Wednesday after securing $4.5 million through a placement. 

The capital raise comes in the wake of high-grade gold, silver and copper drill results from its Mt Carlton deposit.

For the rest of the year, the company plans to boost exploration efforts at the project, 150 kilometres south of Townsville.

The raise shares are offered at 6.6 cents, a 16.5 per cent discount to the last closing price.

Managing Director Ian Holland said the company wanted to grow the resource at the operation, which was acquired by Navarre late last year. 

“With momentum building at Mt Carlton, we believe timing is right to step up exploration activity as we look to expand the growing resource base and convert more resources into reserves into our state-of-the-art processing facility,” he said.

Navarre has a market cap above $90 million and shares were this afternoon trading at the same 6.6-cent price as the capital raise shares will be offered.

Meanwhile, receivables management solutions fintech Credit Clear (CCR) intends to enhance client onboarding with proceeds from its $7.5 million placement.

Credit Clear will improve automation and pursue international expansion. 

CEO Andrew Smith said the company was set to become profitable next month, but the volume of new clients had provided onboarding challenges.

“While this is a fantastic problem to have, it nevertheless is one that needs to be solved,” he said.

“Credit Clear is winning new business at a faster rate than I have ever previously experienced in this industry. 

“The additional capital raised will allow us to quickly build a scalable solution to client onboarding that allows the business to grow unrestrained into the future in Australasia and internationally.”

Shares issued in the placement were priced at 43 cents, today the value on market was 45 cents at 1:34 pm AEST. Credit Clear’s market cap sits above $160 million.

Greenstone Resources (GSR) has secured $4.93 million through a placement to fund exploration activities at its Mt Thirsty, Burbanks and Phillips Find projects.

Managing Director and CEO Chris Hansen said the company hoped to begin drilling within two months. 

“Greenstone is at a transformational point, simultaneously growing the high-grade inventory at our flagship Burbanks gold project, while also maintaining aggressive exploration activities at both Mt Thirsty and Phillips Find,” he said.

Shares gained more than 7.5 per cent today sitting at 5.6 cents as of 1:38 pm AEST.

Malawi bauxite player Lindian Resources (LIN) has received a binding commitment from an unnamed high-net-worth investor to raise $2 million with 10-cent shares.

This price was at a 16 per cent premium to Lindian’s last closing price.

Chairman Asimwe Kabunga said the money would allow the company to pursue the potential acquisition of Rift Valley Resources Developments and its Kangankunde project in Malawi.

“We are pleased to have secured this investment at a premium to the company’s current market price and the confidence that it demonstrates regarding [our] ability to successfully close negotiations regarding the potential acquisition of Rift Valley Resources Developments and its Kangankunde mining project,” he said.

“Lindian will keep shareholders abreast of future developments in this regard.”

Lindian has a market cap just below $65 million and shares were trading at 8.7 cents as of 1:55 pm AEST.

Companies in trading halts today ahead of raising capital are Battery Minerals (LDX), Empire Energy Group (BAT) and Lumos Diagnostics (LDX).

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