In addition to yesterdays capital activity I have built a leaderboard to get a better idea of what is happening structurally in terms of ASX deals.
The microstructure of the market is some what more revealed when you dive in to the data.
Some additional points
across all deals over the last month only 10% were oversubscribed
of 10 guidance updates 40% were posting upgrades
We’ll be diving deeper into these insights and including them as we find out more. If you’ve got any ideas for the leaderboard feel free to fire an email back or connect with me on Linkedin and share your thoughts.
August 7, 2025
📊 A$78+ million raised across 13+ deals | 3 sectors | Market sentiment: Mixed | Price reactions: -8.0% to +33.3%
Major Capital Raisings
Syrah Resources (SYR)
Entitlement + Placement
A$70.0M Target (A$42M completed)
Market Cap: A$317.9M +3.39% ●
A$70.0M Target (A$42M completed)
Market Cap: A$317.9M +3.39% ●
Issue Price: A$0.26 per share
Structure: Fully underwritten, 1 for 5.42 pro rata
Status: Institutional component completed, retail opens Aug 6
Structure: Fully underwritten, 1 for 5.42 pro rata
Status: Institutional component completed, retail opens Aug 6
Standout Metric: Large scale dual offer structure with institutional backing
FBR Limited (FBR)
Share Subscription Facility
A$20.0M Facility
Market Cap: A$34.1M 0.0% ●
A$20.0M Facility
Market Cap: A$34.1M 0.0% ●
Partner: GEM Global Yield LLC SCS
Advisor: Peak Asset Management
Terms: 3-year facility, discretionary drawdowns
Advisor: Peak Asset Management
Terms: 3-year facility, discretionary drawdowns
Use of Funds: Growth strategy, R&D, commercialization
Key Metric: Flexible 3-year facility for strategic growth initiatives
Lindian Resources (LIN)
Strategic Partnership
US$20M + Offtake
Market Cap: A$111.2M -6.0% ●
US$20M + Offtake
Market Cap: A$111.2M -6.0% ●
Strategic Partner: Iluka Resources
Structure: US$20M construction loan + 15-year offtake agreement
Terms: 5-year loan term
Structure: US$20M construction loan + 15-year offtake agreement
Terms: 5-year loan term
Standout Metric: Combined debt facility with long-term offtake provides project certainty
Strategic Investments & Smaller Rounds
Patrys Limited (PAB)
Entitlement Offer
A$1.77M
Market Cap: A$4.7M +33.33% ●
A$1.77M
Market Cap: A$4.7M +33.33% ●
Underwriter: Templar Corporate Pty Ltd
Issue Price: A$0.001 per share
Structure: 3 for 4 + 1 free attaching share
Issue Price: A$0.001 per share
Structure: 3 for 4 + 1 free attaching share
Use of Funds: Technical work, IP portfolio, business development
Key Metric: Includes free attaching shares, strongest price reaction at +33.33%
Manhattan Corporation (MHC)
Completed
A$2.2M
Market Cap: A$10.3M -8.0% ●
A$2.2M
Market Cap: A$10.3M -8.0% ●
Issue Price: A$0.02 per share
Status: Completed August 6, 2025
Status: Completed August 6, 2025
Use of Funds: Hook Lake Project advancement
Corazon Mining (CZN)
Placement + M&A
A$2.0M
Market Cap: A$3.0M 0.0% ●
A$2.0M
Market Cap: A$3.0M 0.0% ●
Issue Price: A$0.002 per share
Status: Firm commitments received, subject to shareholder approval
Asset Acquisition: Two Pools Gold Project from Mining Equities Pty Ltd
Status: Firm commitments received, subject to shareholder approval
Asset Acquisition: Two Pools Gold Project from Mining Equities Pty Ltd
Use of Funds: Two Pools Gold Project exploration, working capital
Additional Activity
Kingfisher Mining (KFM)
A$1.33M entitlement issue
Copper, Gold | +1.3%
A$1.33M entitlement issue
Copper, Gold | +1.3%
BMG Resources (BMG)
A$0.6M placement
Mineral exploration | 0.0%
A$0.6M placement
Mineral exploration | 0.0%
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