There are different reasons why a company might be looking to increase its capital, from acquiring new assets to keeping a healthy balance sheet and everything in between.
It’s important for both new and seasoned investors to be familiar with the different options that companies have to raise money and how different methods can impact a company’s share price.
In uncertain times, companies from all sectors and exchanges face challenges in developing their assets, but how can companies listed on the Australian Securities Exchange (ASX) raise cash? The Investing News Network reached out to experts to answer your questions about capital raising on the ASX.
Comet Resources Limited (Comet or the Company) (ASX: CRL) is pleased to announce that it has contracted Airborne Geo Exploration Pty Ltd (AirGeoX) to complete an aeromagnetic survey of its Barraba Copper Project located in north-east NSW.
Highlights
Mitre Geophysics and AirGeoX have been engaged to conduct a high definition airborne magnetic survey of the Barraba Copper Project using an Unmanned Aerial Vehicle (UAV).
Data collected from the UAV survey will be analysed to refine targets for the next stage ground geophysics program and drilling.
Work to commence this month with results expected shortly afterwards.
Comet Resources Limited (Comet or the Company) (ASX: CRL) is pleased to announce that it has contracted Airborne Geo Exploration Pty Ltd (AirGeoX) to complete an aeromagnetic survey of its Barraba Copper Project located in north-east NSW. AirGeoX is an experienced contractor in the provision of geophysical services utilising the latest in UAV drone technology. This techn
Speaking with the Investing News Network (INN) about capital raising trends seen in Australia, Elaine Tan of Refinitiv said 2020 was a strong year for equity listings in the country across multiple sectors.
According to the firm’s data, the financials sector accounted for the majority of the equity capital raisings in Australia, capturing 20.4 percent of the market at US$7.6 billion, up 30.5 percent from a year ago.
Materials followed behind with a market share of 17.3 percent for a total of US$6.4 billion, an 87.8 percent increase from 2019 and the highest annual total since US$7.3 billion in 2011.
“The sector also saw the greatest number of equity capital market offerings as it reached the busiest-ever annual period in 2020, driven by activity from metals and mining (US$5.7 billion),” Tan said.
Last week’s top-gaining TSXV mining stocks were Red Pine, Chilean Metals, Stratabound Minerals, Beauce Gold Fields and Vertical Exploration.
The S&P/TSX Venture Composite Index (INDEXTSI:JX) closed last Friday (February 26) at 1,018.42, down from its open of 1,100.48 at the start of the week.
In the commodities space, gold fell below US$1,800 per ounce last week, while its sister metal silver briefly neared the US$30 per ounce mark before dropping back below US$27.
Base metals fared better, with copper continuing its hot streak by registering a 10 year high.
Beauce Gold Fields (TSXV:BGF)
Vertical Exploration (TSXV:VERT)
Here’s a look at what may have moved their share prices over the last five days.