Finland nickel debutant up 20 per cent on day two of trade – The Market Herald & More News Here

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

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

Managing Director Todd Ross instructed Deal Room entry to the European market was key to the corporate’s technique.

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

“Being in a position to ship nickel sulphides straight into the battery metals and battery manufacturing market in Europe (we expect) is a extremely distinctive worth proposition.

“We’ll be placing out a useful resource within the subsequent couple of months. 

“There was some historic drilling accomplished by Outokumpu again within the 80s and 90s on our fundamental exploration tenements, there have been 51 holes drilled there and we’ve been going by way of that information 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 have been buying and selling at 30 cents as of 2:10pm AEST.

Navarre Minerals (NML) opens a $5 million share buy plan subsequent Wednesday after securing $4.5 million by way of a placement. 

The capital elevate comes within the wake of high-grade gold, silver and copper drill outcomes from its Mt Carlton deposit.

For the remainder of the 12 months, the corporate plans to spice up exploration efforts on the undertaking, 150 kilometres south of Townsville.

The elevate shares are supplied at 6.6 cents, a 16.5 per cent low cost to the final closing worth.

Managing Director Ian Holland mentioned the corporate wished to develop the useful resource on the operation, which was acquired by Navarre late final 12 months. 

“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 mentioned.

Navarre has a market cap above $90 million and shares have been this afternoon buying and selling on the similar 6.6-cent worth because the capital elevate shares will probably be supplied.

Meanwhile, receivables administration options fintech Credit Clear (CCR) intends to reinforce shopper onboarding with proceeds from its $7.5 million placement.

Credit Clear will enhance automation and pursue worldwide enlargement. 

CEO Andrew Smith mentioned the corporate was set to grow to be worthwhile subsequent month, however the quantity of new purchasers had offered onboarding challenges.

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

“Credit Clear is successful new enterprise at a quicker charge than I’ve ever beforehand skilled on this business. 

“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 within the placement have been priced at 43 cents, right now the worth 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 by way of a placement to fund exploration actions at its Mt Thirsty, Burbanks and Phillips Find initiatives.

Managing Director and CEO Chris Hansen mentioned the corporate hoped to start drilling inside 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 mentioned.

Shares gained greater than 7.5 per cent right now sitting at 5.6 cents as of 1:38 pm AEST.

Malawi bauxite participant Lindian Resources (LIN) has obtained a binding dedication from an unnamed high-net-worth investor to boost $2 million with 10-cent shares.

This worth was at a 16 per cent premium to Lindian’s final closing worth.

Chairman Asimwe Kabunga mentioned the cash would enable the corporate to pursue the potential acquisition of Rift Valley Resources Developments and its Kangankunde undertaking 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 mentioned.

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

Lindian has a market cap just under $65 million and shares have been buying and selling at 8.7 cents as of 1:55 pm AEST.

Companies in buying and selling halts right now forward of elevating capital are Battery Minerals (LDX), Empire Energy Group (BAT) and Lumos Diagnostics (LDX).

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