Capital Raising

Capital Raisings Wrap: Five microcaps tap the market while one large cap rallies 15% intraday

Mon 30 Jan 23, 11:36am (AEST)
Capital raising with glasses on a piece of paper
Source: Shutterstock

Key Points

  • A quiet week for capital raisings with just $245.2m raised
  • The average discount for new shares was 11.85%
  • Imdex shares manage to surge 6.1% when it resumed trading – up from session lows of -7.9%

A summary of companies that initiated capital raisings last week.




Mkt cap

Raise amount

Raise price


24 Jan







24 Jan


Gateway Mining





24 Jan


Athena Resources





24 Jan


The Market Herald





25 Jan


Native Mineral Resources





25 Jan







Capital raisings of interest 

It was a pretty quiet week for capital raisings, with just $245.2m raised or a measly $21.2m if you exclude Imdex.

Imdex: Massive post-raise reversal

Imdex shares experienced a massive intraday reversal after it resumed trading on Monday, 23 January. The stock fell as much as -7.9% to $2.24 in early trade before closing the session 6.1% higher at $2.58. That's a 15.2% rally from session lows!

Its worth noting that 3.67m shares traded hands that day or a 610% increase compared to 20-day average volume.

Interestingly, on Tuesday 24 January, the stock experienced a similar whipsaw session, down -6.2% in early trade but finishing down just -0.4%. The volume was also abnormally high at 4.17m shares.

Does this price action suggest a well-supported capital raising where investors are now bidding up the stock?

IMDEX chart
Source: TradingView

Gateway Mining: A closer look

Gateway Mining is a microcap gold explorer, operating the 1,000 km2 Montague Gold Project in WA.

Montague currently has a Mineral Resource totalling 526,000 ounces of gold and the company believes this forms part of a "significant gold endowed system [with] large scale targets".

The $2.5m capital raising will go towards accelerating exploration at Montague, including a major project-wide structural and geochemical compilation, targeted studies and field work.

Interestingly, Gateway Directors committed a collective $210,260 in the raise, subject to shareholder approval.

Written By

Kerry Sun

Content Strategist

Kerry holds a Bachelor of Commerce from Monash University. He is an avid swing trader, focused on technical set ups and breakouts. Outside of writing and trading, Kerry is a big UFC fan, loves poker and training Muay Thai. Connect via LinkedIn or email.

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