Australian Vanadium has received firm commitments for a placement of 348 million shares at 2.5c each to raise $8.7 million.

The offer was strongly oversubscribed with bids in excess of $14 million received.

Every new share will come with a free 2.5c December 2022 option.

The raising was managed by 180 Markets.

The funds will be used to complete the bankable feasibility study and early engineering for the Australian Vanadium project, advancing Australia's first vanadium redox flow battery electrolyte supply plant, offtake talks and exploration at Coates.

Americas-focused gold explorer Tempus Resources has raised $6.28 million in a placement to fund drilling at the Elizabeth project in Canada.

Shares were issued at 25.1c each, a 1.6% premium to the last close.

Blue Ocean Equities acted as lead manager.

Xantippe Resources has launched a pro-rata non-renounceable entitlement issue to raise up to $2.03 million.

Shareholders can subscribe for one new 0.2c share for every four held, with one 0.35c option on offer for every three shares subscribed for.

The offer is being fully underwritten by Pulse Markets.

Iceni Gold has raised $2.02 million after issuing 9 million shares at 22.5c each to an unrelated sophisticated investor.

The funds will be used to advance drilling at the Deep Well and TOTK targets.

WA gold and base metals explorer Tempest Minerals has launched a $1.6 million raising.

The raising comprises a $391,000 placement and a one-for-four non-renounceable entitlement offer to raise a further $1.25 million.

New 1.7c shares will come with a 3c option on a one-for-three basis.

Marquee Resources has received firm commitments to raise $1.48 million at 5c per share.

GTT Ventures was lead manager.

Gold explorer Alice Queen has raised $1.47 million at 1.1c per share for the Horn Island scoping study.

The placement was oversubscribed and supported by major shareholder Chris Morris.

Henslow was lead manager.

Cyclone Metals is completing a capital raising of up to $1 million, as part of its acquisition of the Nickol River gold project in Karratha.

New shares will be issued at 0.5c each.

Frontier Resources has launched a one-for-eight non-renounceable entitlement issue to raise $957,291.

The issue will be underwritten by CPS Capital Group.

Niobium developer Cradle Resources has launched a one-for-4.4 pro-rata non-renounceable entitlement offer to raise $694,000.

Shares will be issued at 2c each, a 41% discount to the last close.

CPS Capital Group is underwriting the offer with Chris Bath and Grant Davey to sub-underwrite.

Finally, Athena Resources has raised $160,000 in a placement to Hong Kong's Goldway Mega Trade.