African gold explorer Ricca Resources, which is chaired by the Lake Resources’ chair Stuart Crow, is asking investors to chip into its pre-IPO round as it aims for a listing by June.
Ricca had broker Canaccord Genuity offering shares at 17.5¢ a share at a post-money market capitalisation of $32.4 million. It wanted to bring in $7 million to spend on drilling at its existing projects and to find new opportunities.
Elsewhere in private placements by resources juniors, Queensland gold producer Ashby Mining had CLSA drumming up investors for a $3 million short-term converting loan, which was expected to be followed by a $15 million IPO.
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