Kyckr Ltd (ASX: KYK), Torian Resources Ltd (ASX: TNR) First Au Ltd (ASX: FAU) Up By More Than 20%

Sector Reports > Latest News > ASX > Kyckr Ltd (ASX: KYK), Torian Resources Ltd (ASX: TNR) First Au Ltd (ASX: FAU) Up By More Than 20%

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Kyckr Ltd (ASX: KYK) Torian Resources Ltd (ASX: TNR) First Au Ltd (ASX: FAU) were big movers as investors reacted to the companies achieving significant progress on ongoing projects.

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KYCKR Capital Raise

KYCKR stock was up by more than 70% on the company confirming completion of a $5.2 million placement. At the offering, the technology solutions provider issued 78.35 million fully paid ordinary share at 6.6 cents a share. The fact that the offering attracted institutional and sophisticated investors underscores growing confidence about the company’s long-term prospects.

Technology entrepreneur Richard White was one of the biggest investors in the placement offering. The investor has since seen his stake in the company increase to 19.6%.

“I can see in Kyckr, a product, business and opportunity set that can be leveraged and accelerated to major advantage, and I am grateful to be able to help the company accelerate its growth ambitions both in the placement and, time permitting, occasional advice to the team,” Richard White said.

According to the Chief Executive Officer, the $5.2 million capital injection should help support the company’s next phase of growth in the global RegTech landscape. The capital investment also comes hot on the heels of KYCKR unveiling its improved digital platform KYCKR for know your customer authentication.

Net proceeds from the offering will go towards accelerating KYKCR global commercialization activities of its digital products. Part of the funds will also support general working capital purposes.

Torian Tailings Dumps

Torian Resources on its part was up by more than 40% on announcing it is targeting historical tailings dumps and stockpiles across its gold projects in a bid to generate cash. The company has already closed a $410,000 share placement that will help in financing the sampling of dumps.

The capital raise drive comes a month barely after the mining company announced plans to acquire the Bonnie Vale gold project. Initial studies have shown that about 25,000t of tailings sit on top of the prospective lease. An existing provision allows Torian to acquire the project from Zetek Resources and Western Resources on the payment of $71,500 cash and $27,500 worth shares.

First AU Gold Projects Agreements

First AU was also a big mover after announcing the signing of agreements poised to increase the portfolio of gold projects under its holdings. The company has since entered into an agreement to acquire 100% of two advanced gold and gold-copper projects under the custodian of Denis O’Meara.

The company has also inked an agreement to acquire a 70% stake in a joint venture with Atlas Iron Limited. The acquisition should strengthen the company’s gold portfolio in a prospective gold and base metal project.

The acquisitions come just days after the exploration and mining company confirmed an aggressive drilling program at its Gimlet Gold project northwest of Kalgoorlie. Early this month the company confirmed the placement of 60 million shares at $0.025 as it seeks to raise $1.5 million. Part of the funds should go towards financing drilling operations at some of the key projects.

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