Copper explorer Hammer Metals has secured $3.72 million via a placement to fund ongoing exploration in Mount Isa.

New shares will be issued at 6c each, a 13% discount, with directors to subscribe for $220,000.

Canaccord Genuity and Ore Minnett acted as joint lead managers with Foster Stockbroking as co-manager.

Southern Gold is raising $2.5 million via a placement in conjunction with the acquisition of battery minerals commercialisation company Iondrive Technologies.

The company's two major shareholders Strata Investment Holdings and Ilwella have participated in the placement, which is being managed by Prenzler Group.

The company will issue 126 million shares at 2c each.

Western Australian explorer Aruma Resources has received binding commitments for a placement to raise $2.25 million.

GBA Capital was the lead manager to the 5.8c per share offer.

The proceeds will be used for rare earth, lithium and gold exploration.

Forrestania Resources has launched a two-for-five entitlement offer at 7c per share to raise $1.94 million.

Lead manager RM Corporate Finance will underwrite the offer.

The funds will be used for exploration in WA and to progress a lithium joint venture in Canada.

Vertex Minerals is raising $1.67 million via a one-for-three non-renounceable rights issue priced at 10c with a one-for-two free-attaching option.

The cash will be used for trial processing and an underground scoping study at the Hill End gold project.

The offer is being underwritten by lead manager CPS Capital Group.

Dalaroo Metals has received firm commitments for a placement to raise up to $1.1 million at 5c per share with a free-attaching option to be issued with every two new shares.

QA Capital is acting as lead manager with funds to be used for drilling in WA.

Finally, Equentia Natural Resources 50% shareholder Rajiv Ramnarayan has taken up the shortfall from Golden Mile Resources' recent entitlement offer.

Ramnarayan subscribed for $259,374 worth of shares.