new raising

Kagara

Nickel and zinc miner Kagara may tap the market to the tune of $100 million through an accelerated one-for-two rights offer, the AFR suggests. With Kagara due to pay Western Areas $20 million in mid-June for the co-development of the companies' Lounge Lizard nickel deposit, equity capital may be the only option, considering that $192 million worth of a $200 million debt facility has already been drawn. Another option that’s been on the cards for some time is the spin-off of Mungana Goldmines via an estimated $100 million initial public offer. Kagara may wish to be careful about the name’s historical associations however. The so-called 'Mungana Affair' of the 1920s saw the sale of several mining tenements in the area to the Queensland government at vastly inflated prices. A Royal Commission subsequently found that two of the state's premiers secretly held 25 per cent of the properties each.
http://www.businessspectator.com.au/bs.nsf/Article/BREAKFAST-DEALS-Miner-miracle-pd20090525-SCUVA?OpenDocument

It always amazes me that these reporters cant even get the most simple facts right, they call kzl a nickel and zinc miner when in fact they are not producing nickel and actually get most of their revenue from copper, yet they do not even mention copper, a bit of a worry when they cant even get that right.