Four local mining hopefuls have raised $13.2 million between them for new projects, with Egan Street Resources and Ardea Resources in the two biggest deals.
Perth-based Ardea Resources has wrapped up its first day of trading on the ASX, after spinning out from Heron Resources and raising $5.2 million from investors.
Minerals explorer TNG has finally lodged a prospectus for the demerger of its base metals portfolio into a spin-out company, while Heron Resources and Force Commodities have both progressed their respective demergers.
SPECIAL REPORT: Nearly 70 WA-connected companies listed on the ASX in 2016, but current prospects indicate there will be substantially fewer this year.
Heron Resources is the latest company to announce plans to spin-out its non-core assets into a new company, following similar recent movements by Metals X, TNG and Indiana Resources.
