Copper explorer Caravel Minerals has completed a placement of 27.8 million shares at 27c each to raise $7.5 million, including a $7 million contribution by an unnamed large institution.

Canaccord Genuity was lead manager.

The company will seek shareholder approval for the offer.

The funds will be used to advance the Caravel copper project outside Perth.

Nickel explorer St George Mining has raised $7 million for further exploration at the Mt Alexander project in Western Australia.

The heavily oversubscribed placement was priced at 8.2c per share and was upsized from the original target of $5 million.

Argonaut Securities and Canaccord Genuity were joint lead managers.

South Australian developer Iron Road has received commitments to raise $4.25 million via a placement managed by Bell Potter Securities.

The offer price of 21.5c per share represents a 17.5% discount to the last closing price.

The company is also planning to launch a share purchase plan at the same price to raise up to $2 million.

Americas-focused Antilles Gold has launched a heavily discounted renounceable rights offer to raise $3.2 million to fund work in Cuba.

Shares are priced at 6.5c each, a 32% discount, with every two shares to come with a 13c option.

Mahe Capital acted as lead manager and will underwrite the offer to $1 million.

Arrow Minerals has received commitments from sophisticated and professional investors for the issue of 500 million shares at 0.6c each to raise $3 million.

Shares will be issued in two tranches.

The placement will allow the company to accelerate drilling in Burkina Faso.

London-listed, Queensland-focused Rockfire Resources has raised £850,000 through a placement by broker Allenby Capital.

Shares were issued at 0.7p per share.