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Capital Signal - July 21, 2025

📊 A$37.46M raised across 8 deals | 3 sectors | Market sentiment: Mixed (+2.26% avg)

Major Capital Raisings

Andean Silver Limited (ASL) Placement
A$30.0M Market Cap: $215.9M +0.73% ●
Mining Silver/Gold Global Operations Development Stage
Lead Managers: Canaccord Genuity, Euroz Hartleys, SCP Resource Finance
Issue Price: A$1.20 (13.4% discount to close, 2.8% discount to 10-day VWAP)
Volume Interest: 2.57x average (high)
Use of Funds: Resource expansion drilling, Inferred to M&I conversion, mining studies, feasibility studies
Key Metric: Well supported by northern hemisphere institutions, applications scaled back
Highfield Resources (HFR) Strategic Investment
US$300M Market Cap: $66.37M +3.85% ●
Mining Potash Spain Operations Development Stage
Strategic Partners: Qinghai Salt Lake Industry Co. (China Minmetals), Yankuang Energy Group
Status: Proposed investment, due diligence ongoing
Timeline: Exclusivity extended to 15 September 2025
Deal Structure: Strategic cornerstone placement under negotiation
Key Metric: Massive investment 4.7x current market cap - potential transformation

Strategic Investments & Smaller Rounds

Ordell Minerals Limited (ORD) Placement
$3.85M Market Cap: $17.9M +3.75% ●
Mining Gold/Lithium Australia
Lead Manager: Argonaut Securities Pty Limited
Issue Price: $0.34 (18.1% discount to close, 9.6% discount to 15-day VWAP)
Use of Funds: Accelerate drilling at Barimaia Gold Project, first-pass exploration at Goodia and Fisher South
Pentanet Limited (5GG) Debt Facility
$2.0M Market Cap: $15.59M +9.09% ●
Telecommunications ISP Cloud Gaming Perth
Lender: Moneytech Finance Pty Ltd
Terms: 4-year term, 11.74% fixed interest, second-ranking security
Use of Funds: Final 5G spectrum licence payment ($1.7M due July 2025)
Key Metric: Highest price reaction (+9.09%) in the dataset
Sipa Resources (SRI) Placement
A$1.61M Market Cap: $7.07M -5.56% ●
Mining Gold/Base Metals Western Australia
Lead Manager: Baker Young
Issue Price: 1.4 cents
Volume Interest: 5.34x average (high)
Use of Funds: RC drilling at Bimba & Sheoak, aircore drilling programs
Key Metric: Oversubscribed placement despite negative price reaction
MRG Metals Limited (MRQ) Entitlement Offer
$817,956 Market Cap: $10.9M 0.0% ●
Mining Heavy Mineral Sands Mozambique
Structure: 3:10 non-renounceable options
Issue Price: $0.001 per option, exercise $0.004
Expiry: August 2027
Use of Funds: Linhuane HMS drilling, REE projects, uranium exploration
Key Metric: Exceptionally high volume turnover (13.72x average)
Rincon Resources Limited (RCR) Loyalty Options
~$97,520 Market Cap: $4.97M +6.25% ●
Mining Copper/Gold Western Australia
Underwriter: Golden Triangle Capital Pty Ltd
Structure: 1:3 ratio, fully underwritten
Terms: Exercise $0.03, 18-month expiry
Use of Funds: Work programs at Telfer, Laverton and Crackerbox gold assets
Yowie Group Ltd (YOW) Debt Facility
Up to $1.0M Market Cap: A$3.2M 0.0% ●
Consumer Goods Brand Licensing Children's Entertainment
Lender: Keybridge Capital Limited (parent entity)
Terms: 9-14% interest depending on repayment timing
Security: Secured/unsecured tranches
Use of Funds: Short-term cash flow requirements to 30 September 2025
Key Metric: Internal review of former directors' use of recent placement funds
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