New South Wales explorer Magmatic Resources is raising up to $4 million for exploration at Myall.

The company has received firm commitments to raise $3 million in an oversubscribed placement, managed by Ord Minnett and Canaccord Genuity, and will seek a further $1 million in a share purchase plan.

The issue price is 11c per share, a 9.1% discount to the last closing price.

South Harz Potash has raised $3 million at 4.5c per share, a 5.3% discount to the previous close, in a placement managed by Morgans Corporate.

Directors and management will subscribe for $625,000.

The proceeds will be used for the prefeasibility study for the Ohmgebirge project in Germany.

Manganese explorer Accelerate Resources has received firm commitments to raise $3 million at 2.8c per share, plus a one-for-two option.

Euroz Hartleys was lead manager and bookrunner.

The cash will be used for exploration in the Pilbara.

Southern Gold has raised $2 million in an oversubscribed private placement at 2.3c to fund work in South Korea.

Prenzler Group managed the placement, while major shareholders Metal Tiger and Illwella participated.

Dundas Minerals has raised $1.6 million in a placement at 40c to professional and sophisticated investors.

Sandton Capital Advisory acted as lead manager, with the proceeds to be used for exploration in the Albany-Fraser Orogen.

Namibia copper explorer Noronex has raised $1.5 million in an oversubscribed placement at 2.5c per share, including $325,000 from directors.

Westar Capital acted as lead manager with the funds to be used for exploration in the Kalahari Copper Belt.

Niobium explorer Globe Metals & Mining has received firm commitments to raise $1.55 million in two tranches at 6.35c per share, including a one-for-five option.

Viriathus Capital is lead manager.

Western Mines Group is raising $693,750 via the issue of 5.5 million shares at 12.5c each, a 3% premium.

The placement saw the introduction of new cornerstone investor Equentia Natural Resources.

Freehill Mining has signed a $400,000 convertible securities agreement with Obsidian Global.

Finally, lithium developer Essential Metals has raised $342,251 from the exercise of options.