The $5.1 million is being raised via an entitlement issue priced at 20c per share, with major shareholders Lion Selection Group and AustralianSuper participating.
Nusantara has delineated 1 million ounces of reserves at Awak Mas, and is looking to produce 100,000oz per annum.
Production is being targeted from 2020.
Nusantara listed in August last year following a $16.2 million IPO.
The company started the current quarter with $4.1 million.
Shares in Nusantara were trading at 22c prior to the fund raising, capitalising the company at $21.5 million.
The stock reached a high of 32c in February.
