Gulf Manganese Corporation has received commitments to raise $3.25 million in a placement.

The issue price is half a cent, a 24% discount to the 15-day volume-weighted average price.

The company will place a further 45 million shares at 0.7c per share to Acuity Capital to raise an additional $320,000.

The proceeds will be used for working capital.

Carpentaria Resources' previously announced share purchase plan has closed heavily oversubscribed, with applications received for $2.95 million, above the targeted $2 million.

The company will accept the oversubscriptions and use the funds for the Hawsons iron project near Broken Hill.

Cobalt Blue has launched a one-for-six non-renounceable entitlement offer to raise $2.49 million.

Blue Ocean Equities is acting as lead manager and underwriter for the 12c per share offer.

The proceeds will be used to advance the Thackaringa cobalt project.

Vanadium developer Tando Resources has received firm commitments from Australian and UK investors to raise $1.7 million and will conduct a share purchase plan to raise a further $300,000.

Both offers will be conducted at 8.5c per share.

The funds will be used to progress offtake agreements for the SPD project in South Africa.

Gold explorer Saturn Metals has raised $1.5 million to advance the Apollo Hill deposit.

The company placed 7.14 million shares at 21c each, a 9% discount to the five-day VWAP, to professional investors in a placement lead managed by Patersons Securities.

Northern Cobalt has announced a placement to raise $450,000 and a one-for-three non-renounceable rights issue to raise up to $1.04 million.

Every two new 5c shares subscribed for will come with a 10c June 2022 option.

The new funds will be used for exploration in Alaska and the Northern Territory.

Minotaur Exploration has received binding commitments to complete a placement to sophisticated and institutional investors to raise $1.25 million.

Shares will be issued at 4c per share, a 5% discount to close.

Minotaur's largest shareholder, an affiliate of Sprott Group, will participate to maintain its 12% stake.

Traka Resources has launched a one-for-three non-renounceable pro-rata issue of up to 110.4 million shares at 1.3c each to raise up to $1.43 million.

The proceeds will be used for exploration.

Chesser Resources has raised $975,000 for gold exploration in Senegal.

Taylor Collison acted as lead manager.

Nickel miner Axiom Mining is conducting a private placement of about 33 million shares at 4c each, with each share to come with a 10c April 2021 option.

The placement will raise $776,000 cash, reduce debt by $193,600, and subject to shareholder approval, raise an additional $100,000 cash and reduce debt by $250,000.

Finally, UK investor Jim Mellon is investing a further $500,000 in Dart Mining to take his stake to 19.3%.

Mellon subscribed for 83.3 million shares at 0.6c each in a private placement.