Queensland-focused Sunshine Gold has raised $5 million in a placement.

Institutional and sophisticated investors subscribed for $4.68 million worth of shares, with directors to chip in $315,000, subject to shareholder approval.

The issue price is 4.5c, a 10.1% discount to the five-day volume-weighted average price.

The funds will be used for exploration at the Ravenswood West, Triumph, Hodgkinson and Investigator projects.

Sipa Resources has received firm commitments to raise $1.5 million at 5.9c per share, a 5% discount to the 15-day VWAP.

The non-brokered placement will support gold and base metals exploration in Western Australia.

Metals Australia has raised $1.5 million in a placement lead managed by Peak Asset Management.

The cash will be used to explore for lithium and tantalum at Manindi in WA.

After completing a $2.7 million rights issue, Bulletin Resources has undertaken a further placement to raise $900,000 due to strong demand.

Shares will be issued at 4.5c, the same price as the rights issue, and will come with an option on a one-for-three basis.

The company has raised a further $45,000 via the issue of 0.1c options.