Explaurum has completed a bookbuild through Hartleys to raise A$4.5 million in an oversubscribed placement.

The company will place up to 42.9 million shares at 10.5c per share to sophisticated and institutional investors.

A new resource for the Tampia gold project is due late this month, followed by a scoping study in September and a feasibility study by the end of the year.

Hartleys has also acted as lead manager for a $2.2 million placement by Plymouth Minerals.

The placement was conducted at 17c, a 15% discount to Plymouth’s last closing price of 20c before the placement was announced.

The funds will be used to advance the San Jose lithium project and drill potash projects in Gabon.

Pure Minerals (formerly Eagle Nickel) has raised $4.5 million to acquire 100% of Pure Manganese and 80% of Mineral Developments.

The company is set to relist on the ASX this week.

Avalon Minerals has completed a $1 million share purchase plan, taking the total amount raised recently to $3.3 million.

The proceeds will mainly fund exploration at the Bramaderos copper-gold project in Ecuador.

Diatreme Resources has launched a placement to raise up to $750,000 at 1c, with each share coming with a 1.2c January 2018 option.

The company has already received firm commitments for $500,000.

The funds will be used for Cape Bedford drilling, Cyclone offtake negotiations, and working capital.

Finally, Silver City Minerals has raised $700,000 to fund exploration at the Copper Blow project in Broken Hill.

The raising comprises a $428,000 placement to sophisticated investors and a $250,000 SPP priced at 1.8c per share.

 

Patersons Securities is acting as lead manager.