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Racura Oncology (ASX:RAC) attracted the most HotCopper interest after it revealed a specialist institutional investor focused on emerging healthcare companies had provided additional funding to a new capital raising. The strategic placement enables the investor to establish an initial equity position in the company.
The placement of ~$1M, combined with funds raised under both a piggyback options offer and bonus options offers, has raised a total of $31.2M to support the clinical development of candidate RC220 and general capital.
“We are delighted to welcome this new institutional investor as a Racura holder. This investment reflects a growing awareness of Racura; as the company is well financed by our shareholders, there has been no opportunity for interested institutions to invest,” CEO and MD, Dr Daniel Tillett, explained.
RAC is up +5.58%, to $2.65 at the time of writing.
Elsewhere, Locksley Resources (ASX:LKY) has been down dramatically after reporting high-grade rare earth mineralisation at El Campo in the Mojave in California.
Maiden diamond drilling at El Campo has confirmed high, magnet rare earth oxides-enriched light rare earth element (LREE) mineralisation with similarities to the nearby Mountain Pass-style carbonatite system.
Neodymium and praseodymium magnet rare earth oxides represent approximately 25% of TREO in key drill intercepts, highlighting enrichment in the critical rare earth elements required for permanent magnets, defence technologies, robotics and advanced manufacturing.
KHY was down -20% to 8.8cps, primarily due to profit-taking.
Junior oil and gas explorer Elixir Energy (ASX:EXR) was up +4% as it prepares to start flow testing at the high-impact Lorelle-3H appraisal well in the Taroom Trough.
The operation is designed to measure reservoir pressures of the targeted Tinowon ‘Dunk’ Sandstone and provide other critical information for the final design of the full multi-stage stimulation and testing phase of the operation.
EXR was up 4.76% to 11cps through to lunchtime Thursday.
Looking wider, the S&P/ASX 200 was lower in early trade today, -1.2%.
That’s Thursday’s HotCopper Market Trends, I’m Colin Sandell-Hay - see you for close.
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