Pricing is at 40c, with the raising to also feature one free attaching option for every two new shares subscribed for.
The options are exerciseable at 65c prior to expiry at the end of next year.
Panthea Capital has the mandate to place any shortfall on a best endeavours basis.
Funds will be used to accelerate exploration, Yandal said.
The company started the current quarter with $4.6 million and has $900,000 of in-the-money options expiring at the end of the year.
Yandal has been drilling throughout 2021 with gold targets just to the north of Kalgoorlie and between Leinster and Wiluna.
A mineral resource estimate for the Gordons's prospect is due next quarter.
Shares in Yandal were down 7% to 41c in late trade, capitalising the company at $42 million.
