Horizon Gold has launched a one-for-5.2 renounceable entitlement offer to raise up to $7.2 million at 35c per share.

Major shareholders Zeta Resources and Horizon directors will take up their full entitlements, raising $5.3 million.

The funds will be used for a major drilling program at the Gum Creek gold project.

Impact Minerals has launched a one-for-four renounceable rights issue to raise up to $6 million.

The issue is priced at 1.1c per share, a 27% discount to the last closing price with every two new shares to come with a free option.

Lead manager Mahe Capital is underwriting the offer to $3 million.

The proceeds will be used for early stage exploration across Impact's strategic and battery metals assets in Western Australia.

Fresh from a rare earths discovery in South Australia, Petratherm has received firm commitments to raise $3.1 million.

The company will seek to raise a further $3 million via a share purchase plan.

The cash will facilitate further drilling in SA.

Krakatoa Resources has received firm commitments to raise $5 million via a placement of 50 million shares at 10c each.

The funds will be used mainly to advance the Mt Clere rare earths project.

Alto Capital acted as lead manager.

Graphite developer Triton Minerals has entered into a mandate with Taurus Capital Group to act as lead manager for a placement of up to 140 million shares at 2.9c per share and 140 million options.

The issue would raise a maximum $4.1 million.

Funds raised will be used for the Ancuabe project in Tanzania.

Manganese explorer Black Canyon has raised $3.2 million to fund a feasibility study at its Flanagan Bore project.

The 33c issue price represented an 11% discount to the last closing price.

The placement was joint lead managed by Taylor Collison and Argonaut Securities.

Gold explorer Torque Metals has raised $3 million in a placement managed by Euroz Hartleys.

Every two 20c shares will come with a 30c option.

The company will use the funds to expand drilling at its Paris project.

Thomson Resources has terminated a convertible debt issue that was to raise $3 million.

It came after discussions with various stakeholders.

The company will issue up to 80 million shares at 4.1c each to raise $3.28 million, subject to shareholder approval.

New iron ore producer Elmore has raised $2.5 million via the issue of a converting note to a number of existing funds and sophisticated investors.

The raise was managed by Shaw and Partners.

Hexagon Energy Materials has raised $1.91 million in a placement conducted by 180 Markets.

The oversubscribed two-tranche placement was priced at 2.8c per share.

Funds will be used for nickel-copper-PGE and graphite exploration.

Finally, Alice Queen has raised $1.5 million in a private placement priced at 0.6c per share.