Copper explorer Cobre has raised A$5 million to accelerate exploration in the Kalahari Copper Belt.

Sprott Asset Management invested almost $2 million, largest shareholder Metal Tiger subscribed for $1 million and second-largest shareholder Commodity Discovery Fund subscribed for $300,000.

Service providers Mitchell Drilling Botswana and Remote Exploration Services have subscribed for US$400,000 and $70,000, respectively, as part of scrip-for-service arrangements.

The company will launch a share purchase plan to raise up to an additional A$1 million.

Contract mineral processing company Elmore has completed a placement of 244.7 million shares to raise $3.91 million.

The offer was priced at 1.6c per share, an 11.1% discount to the last traded price.

The funding will be used for the ramp-up of magnetite and copper-cobalt production at Peko.

China's Chijin International is investing $3 million in MetalsTech.

The placement will give the Chinese producer 9% of MetalsTech.

Celsius Resources has signed an agreement with The Lind Partners for up to $2.8 million of funding.

The proceeds will be used for the MCB copper project in the Philippines.

Hongkong Xinwei Electronic Co, a subsidiary of Sunwoda Electronic Co, has agreed to invest $2 million in St George Mining.

The investment underpins a memorandum of understanding to consider partnering on lithium projects.

Pearl Gull Iron has raised $2 million at 2c per share via a placement and entitlement issue.

Golden Triangle Corporate is lead manager while James Bahen's Malekula Projects is underwriting the offers.

Gold Mountain has raised $2 million in a placement after announcing a lithium acquisition this week.

The company is also undertaking a non-renounceable entitlement issue of options.

OZZ Resources has launched a three-for-five entitlement offer to raise up to $1.5 million and a $200,000 placement.

CPS Capital Group is lead manager.

Bastion Minerals has lodged a prospectus for a two-for-five non-renounceable rights issue to raise up to $1.59 million.

The company will also issue options on a one-for-two basis.

The funding is being sought for due diligence on a project in Canada.

North America-focused PolarX has raised $1.48 million, including a $753,600 placement to Northern Star Resources.

The investment will give Northern Star about 10% of PolarX.

Canada-focused gold explorer Labyrinth Resources has placed $1.3 million worth of shares to existing shareholders at 1.7c per share.

The funds will be used for ongoing exploration in Quebec and Western Australia.

Legacy Minerals Holdings has received firm commitments for a placement of eight million shares at 15c each to raise $1.2 million.

CLSA Australia and Saint Gabriel were joint lead managers.

The cash will be used to expand gold drilling at Bauloora.

Iron ore junior Strike Resources has raised $1.1 million via the issue of 13.75 million shares at 8c each.

Canaccord Genuity was lead manager.

Polymetals Resources has placed four million shares to a strategic investor to raise $1 million.

The issue price of 25c represented a 6.4% premium to the previous closing price.

DRC gold explorer Amani Gold has undertaken a private placement of one billion shares at 0.1c each to raise $1 million.

Every two new shares will come with a free-attaching option.

R3D Resources has secured $1 million in convertible note funding for the ramp-up of copper sulphate production at Tartana.

The conversion price of 15c per share represents a 150% premium to the last closing price.

Terrain Minerals has launched an SPP to raise up to $800,000.

Funds raised will be used for drilling on rare earths, gold and lithium projects.

South Australia-focused Indiana Resources has raised $500,000 at 5c per share in a placement to an existing shareholder.

Funds will be used for exploration.

Intra Energy Corporation has received firm commitments from sophisticated investors to subscribe for a placement of 100 million shares at a price of 0.5c per share, to raise gross proceeds of $500,000. 

IEC will use the funds for continuing analysis of its flagship Yalgarra project, general working capital and identification of new projects with potential to transform the company.