Papua New Guinea-focused Mayur Resources has raised A$5.5 million via the issue of 15.7 million CHESS depositary interests at 35c each.

 

The placement was managed by Aitken Murray Capital Partners.

 

The funds raised will be used to advance the company's flagship Central cement and lime project.

 

Great Southern Mining has closed an oversubscribed placement, raising $3.12 million at 8cps, to fund near-term drilling at its Cox's Find and Mon Ami gold projects in WA and geochemical programs across the Edinburgh Park project in northern Queensland.

 

South Australia-focused Havilah Resources has completed an oversubscribed placement to raise $2.55 million and the company will seek a further $2 million via a share purchase plan.

 

Petra Capital was sole lead manager to the placement, which was conducted at 17c per share, a 14.1% discount to the 15-day volume-weighted average price.

 

The funds will be used to advance projects near Broken Hill.

 

Peel Mining has completed the sale of its remaining 4 million share-stake in spin-off Saturn Metals for $2.92 million.

 

The proceeds will be used to continue the company's ‘Hub & Spoke' development strategy at the South Cobar project.

 

Essential Metals is raising up to $2.8 million to accelerate gold exploration in Western Australia.

 

The raising comprises an oversubscribed $2.05 million placement, supported by Fresh Equities, and an SPP to raise up to $750,000.

 

The issue price was 8.5c per share, a 12.4% discount to the last close, with each two shares to come with a free option.

 

Papua New Guinea explorer Gold Mountain has secured $2 million in working capital from entities associated with company advisor Matt Liddy.

 

The placement price of 5.5c per share represents a 31% premium to the 20-day VWAP.

 

Tempest Minerals has received commitments from clients of RM Corporate to raise $1.15 million in two tranches.

 

The proceeds will be used for gold and base metal exploration in Western Australia.

 

Classic Minerals has raised $1.2 million through a 0.1c placement that was reportedly three times oversubscribed, as it looks to start production at its Kat Gap deposit in WA.

 

The new management team of Manas Resources will invest $500,000 by subscribing for 111.1 million shares at 0.45c each.

 

New managing director Justin Tremain will invest $250,000.

 

Finally, newly appointed Equatorial Resources MD John Welborn will invest $450,000 in the company.