Junior gold producer Greenstone Resources has received firm commitments to raise $3.5 million in an oversubscribed placement.

The issue price was 3.2c per share, a 7.4% discount.

The proceeds will be used to expedite exploration at Burbanks.

Valor Resources has secured commitments for a $3.4 million placement via CPS Capital.

The company will issue 309 million shares at 1.1c each.

The proceeds will be used to advance exploration at the Peru Picha project.

Aruma Resources has received commitments for a placement of 31 million shares at 10c per share to raise $3.1 million.

Rawson Lewis was lead manager, with shareholder Stephen Copulos to participate.

The funds will be used for lithium and gold exploration.

Metallica Minerals has raised $3.03 million to progress the Cape Flattery silica sand project.

The 3.1c issue price was a 7% premium to the last closing price, with one option to be issued for every two new shares.

SPARTA AG, part of the Deutsche Balaton Group, subscribed for $2 million, while Ilwella and Dostal also participated.

Taruga Minerals is seeking to raise up to $2.5 million for exploration in South Australia.

The company will conduct a placement to raise up to $2 million, as well as a share purchase plan to raise up to an additional $500,000.

Foster Stockbroking acted as lead manager to the 3.4c offer.

Europe-focused Rafaella Resources has completed an oversubscribed $2 million private placement, managed by Vert Capital.

The issue price of 6c per share was a 2% premium to the last traded price. Every two new shares will come with a free 12c option.

Junior explorer Traka Resources has announced an $800,000 placement at 1.2c per share.

The funds will be used to advance the Mt Cattlin project.