Lucapa Diamond Company has raised $2.8 million to advance exploration at its Lulo concession in Angola.

Far East Capital acted as lead manager to the placement, which got strong support from sophisticated and professional investors.

The company will also launch a one-for-14 non-renounceable rights issue to raise a further $3.9 million, with directors to take up their full entitlements.

Tungsten miner Specialty Metals International has raised $4.5 million in an oversubscribed placement at a premium of 3.6c.

The funds will be used to accelerate development of the Mt Carbine project in Queensland.

Anova Metals has received commitments to raise $500,000, and will launch a one-for-two non-renounceable rights issue to raise up to a further $3.45 million.

Argonaut Securities has been appointed lead manager with Au Hingao Investment agreeing to subscribe for $1.55 million, as well as refinance a $2.8 million loan.

Rare earths producer Northern Minerals has entered into a $2.625 million convertible security funding agreement with Lind Global Macro Fund.

The security has maturity date of 24 months.

Deutsche Balaton has boosted its stake in Matsa Resources by subscribing for 10 million shares at a premium of 15.5c per share to raise $1.55 million.

The funds will be used to advance the Red October gold mine.

Oro Verde has raised $1.15 million via a placement at 0.8c, and will seek a further $500,000 in a share purchase plan.

The proceeds will be used for drilling as part of the scoping study for the Makuutu rare earths project.

Developer Graphex Mining has announced plans to raise up to $1.05 million via an $800,000 placement and $250,000 SPP.

The placement was conducted at 6.5c, an 18.75% discount, and lead managed by Bridge Street Capital Partners.

The company subsequently reported it had raised an additional $163,500 via a placement to an institutional investor.

Audalia Resources has placed $360,000 worth of shares at 1.2c each to a sophisticated investor.

The cash will be used for the Medcalf project.

Enterprise Metals has raised $310,500 via the placement of the shortfall from its late 2019 entitlement offer.

Finally, Cohiba Minerals has postponed a proposed SPP due to market conditions, and will review funding options.