Lithium Australia has raised $4 million via a 5.3c per share heavily oversubscribed placement to institutional and sophisticated investors lead managed by BW Equities.

A share purchase plan will seek to raise an additional $2 million.

The funds will be used to commercialise Envirostream Australia's battery recycling business, marketing and working capital.

Eric Sprott has subscribed for C$4.2 million worth of units in Toronto-listed explorer Nubian Resources.

The funds will be used to explorer for gold in Tasmania and Victoria, and for silver in Peru.

HPA developer FYI Resources has raised A$2.7 million via a placement at 6c per share.

The placement was supported by existing shareholder Regal Funds Management and a new cornerstone investor, Ken Hall, who subscribed for $500,000.

FYI is advancing a HPA project in Western Australia and the funds will allow it to conduct further marketing, test work and trial production.

Enterprise Metals has launched a one-for-four entitlement issue at 2.2c per share to raise up to $2.6 million.

Every two new shares will come with a 3c option, exercisable by the end of August 2022.

The proceeds will be used to advance the Mandilla and Bullfinch North gold projects.

Great Boulder Resources has received firm commitments to raise $2.3 million via a $1.33 million placement and an underwritten one-for-six entitlement offer to raise $960,000.

The raising was arranged by Cumulus Wealth, while the rights issue was underwritten by Viriathus Capital.

Shares will be issued at 4.3c each, a 17% discount to the 15-day volume-weighted average price.

The funds will be used to aggressively drill the Side Well and Whiteheads gold projects in the Goldfields.

Peak Asset Management has acted as lead manager in a placement to raise $2.34 million for Golden Deeps.

Funds from the 1.25c per share placement will be used to accelerate exploration in the Lachlan Fold Belt.

New South Wales-focused Argent Minerals has raised $2.2 million in a placement at 5.5c per share to sophisticated and professional investors.

Every two shares issued will come with a 5c listed option.

The placement will allow the company to fast-track drilling of its Kempfield polymetallic project.

Alchemy Resources has raised $1 million via a strongly supported placement, and will seek an additional $830,000 via a one-for-10 non-renounceable rights issue.

The issue price is 1.5c per share, a 16.5% discount to the 15-day VWAP, with every four shares to come with a 3c option.

The funds will be used for drilling in Western Australia and New South Wales.

New gold company Aurumin has completed a $1 million pre-initial public offering.

The raising was cornerstoned by Canada's Palisades Goldcorp.

Finally, Malachite Resources has received firm commitments from sophisticated and institutional investors to raise $625,000.

The oversubscribed placement was conducted at 3c per share and was lead managed by Bridge Street Capital Partners.

The company will seek an additional $100,000 in a share purchase plan at the same price.