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Tanzania-focused nickel explorer Adavale Resources announced a $1.65 million placement early in the week and increased it today to $2.47 million due to demand.
The company will also undertake a one-for-five entitlement offer to raise a further $2 million.
GBA Capital is acting as lead manager and will underwrite the entitlement offer to $800,000.
Every new 1.9c share issued will come with an option, exercisable at 3c before the end of 2025.
Ark Mines has raised $3.05 million in an oversubscribed placement priced at 29c per share, a 19.4% discount, for exploration at the Sandy Mitchell rare earth project.
Every two shares will come with a free-attaching 40c option, exercisable at 40c.
Barclay Pearce Capital Management and Sanlam Private Wealth acted as joint lead managers.
Brine explorer Pursuit Minerals has received commitments for a placement of 250 million shares at 1.2c each to raise $3 million.
Inyati Capital and CPS Capital Group were joint lead managers to the oversubscribed placement.
The proceeds will be used for the first drilling program at the Rio Grande Sur lithium project, which is expected to result in an initial JORC resource.
Southern Hemisphere Mining has launched a one-for-four non-renounceable rights issue to raise $2.36 million.
The offer is priced at 2c per share, a 13% discount, and includes a one-for-one option.
The funds will be used to advance the Llahuin copper-gold-molybdenum project in Chile.
Gold Mountain has received commitments for a placement of 300 million shares at 0.75c per share to raise $2.25 million, managed by Peak Asset Management.
The proceeds will be used for exploration in Brazil and Papua New Guinea.
Manganese explorer Black Canyon has completed an oversubscribed placement to raise $1.95 million for exploration and studies.
Taylor Collison acted as lead manager to the 14c per share placement, which Black Canyon said was cornerstoned by an Australian fund.
Finally, rare earths explorer Victory Metals will receive $895,227 from the conversion of options by its chairman Trevor Matthews and founding shareholders of the company.
