Celamin Holdings has secured binding commitments to raise A$3.2 million via a placement at 7.5c per share.

Major shareholders Lion Selection Group and Retzos Group cornerstoned the placement, while Celamin directors and their associates will subscribe for $1 million, subject to shareholder approval.

The company plans to grant a one-for-10 loyalty option, exercisable at 10c per share by August 2022.

The funds raised will be used to advance the Chaketma phosphate project.

Suspended explorer Golden Cross Resources has lodged a prospectus to raise up to $3 million at 30c per share.

Lead manager Martin Place Securities will underwrite the offer to $1.5 million.

The company needs to raise the cash before mid-January or risk being removed from the ASX.

Toronto-listed Huntsman Exploration has closed a private placement of 31 million shares at C7c per share for total gross proceeds of $2.1 million. 

Proceeds of the placement will be used for exploration on the Canegrass property in Western Australia, acquisition costs relating to the final payment and exploration work on the Baxter Spring property, and general working capital. 

Resource Mining Corporation expects to raise $500,000 in a placement to fund drilling at the Kabulwanyele nickel project in Tanzania.

The shares will be issued in two tranches at 1.6c per share, with Empire Capital Partners appointed as lead manager.