Capital Watch: A busy week for capital raisings in the small-cap space

AuStar Gold is an exciting gold exploration, mining and production company with a portfolio of historical, near term development and current assets based around the Morning Star Gold mine. The company has recently been featured in an article by the Mining News.

AuStar Gold announces a hugely successful share placement of $4M, lead managed by Barclay Pearce Capital. The capital raising was very strongly supported, with bids of approximately A$6.7M received.


 

AuStar Gold has received binding commitments from institutional, sophisticated and professional investors for a $4 million placement.

The company is focused on the mining and production of its flagship Morning Star gold mine that has historically produced over 830k Oz of gold as well as the exploration of its significant and mineralised landholding. AuStar owns and operates its own milling plant on-site at the Morning Star mine in Woods Point, Victoria.

Additionally, AuStar has 670 km2 of exploration tenements covering the Walhalla to Woods Point dyke swarm with historic high-grade production totalling in excess of 6,000,000 Oz of gold.

The company is merging with White Rock Minerals so the cash will be used for transaction costs and exploration.

 

Read the full Mining News article here.