TBA) funded for gold production – The Market Herald

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Tombola Gold (to be determined) announced that it is now fully funded until first gold production from its flagship Mt Freda gold mine in the next quarter.

The company raised $10.5 million from a placement priced at 6 cents per share, a 5% premium to its 15-day volume-weighted average price.

The increase will also fund exploration for copper, cobalt and gold near Cloncurry in Queensland and copper in the Burra region of South Australia.

The Market Herald’s Trading Room will feature an interview with Tombola Managing Director Byron Miles tomorrow.

TBA’s market capitalization is around $50 million and the stock’s value has fallen back below the raise price to 5.6 cents at 2:23 p.m. AEST.

Cybersecurity firm Senetas Corporation (SEN) made a $5 million placement to spur investment in its subsidiary, secure gateway company Votiro Cybersec Global.

Senetas CEO Andrew Wilson spoke to Melbourne’s Deal Room.

“Senetas’ continued support of Votiro, combined with Senetas’ requirement to maintain higher inventory levels in the near term due to industry-wide semiconductor shortages, has reduced reserves by excess cash from Senetas,” he said.

“However, following the completion of the placement, Senetas is now well positioned to continue to support the growth of the Senetas and Votiro businesses.

“As the global shortage of electronic components continues to delay some customer sales, we are pleased to see the growth of Senetas’ sales pipeline continue, with continued growth in the North American market particularly encouraging.”

The company has a market capitalization of $40 million and the share price fell following the rise, trading at 3.5 cents as of 2:33 p.m. AEST.

Meanwhile, Integrated diagnostics (IDX) is acquiring Exact Radiology in southeast Queensland in a $37.5m cash deal, funded in part through its $43m fundraise earlier this year.

Exact has 11 clinics in Brisbane, Ipswich and surrounding centers and has a projected EBITDA of $5.25 million for the 2022 financial year.

Integral Diagnostics has a market cap of over $830 million and shares are trading on the news at $3.71 as of 2:17 p.m. AEST.

IPO News

RLF AgTech (RLF) has been on the market for over two weeks now after raising $8.5 million through its IPO.

The technology-driven fertilizer company is bolstering its sales team in a bid to increase market share as the dispute in urea- and potash-rich Ukraine sees fertilizer prices hit all-time highs.

Since its IPO, the company has secured a $1.2 million forward sale contract with two Chinese companies.

Despite these factors, the shares are trading today up to 20% off the IPO price of 20 cents.

Chief Executive Ken Hancock said the company must now deliver on its IPO promises.

“We are a business that has revenue; there is also profit. It’s really, for us, about executing our growth plans that we’ve published in our prospectus, and I think once we do that, we’ll see the natural results in terms of pricing,” said he declared.

RLF AgTech has a market cap of over $33 million and shares were trading at 16 cents as of 2:36 p.m. AEST.

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