Proactive Investors - Great Southern Copper PLC (LON:GSCUG) raised £905,000 to fund its operations in Chile, including the drilling of high-grade copper and gold targets.
Shares at 2.25p were issued through a placing and subscription scheme and represent 11.7% of the total issued share capital, a company statement said.
The cash will help with the finding and drilling of high-grade Cu-Au targets at GSCU’s Especularita project.
Detailed mapping and surface sampling of the Colorada lithocap and reconnaissance work at the San Lorenzo project will also be possible thanks to the fundraising.
An exploration of the newly acquired Monti lithium project in Salar de Atacama will also take place.
Each share comes with the ability to purchase another share at 4.5p within the next two years.
Sam Garrett, chief executive officer of Great Southern Copper, said: "We are pleased with the completion of the Placing and Subscription and are grateful to our new and existing investors.
“Continued strong involvement by our existing shareholders, Board and Management reflects the confidence in our projects and in the Company's exploration team.”
Shares in Great Southern Copper are trading at 2.4p on Thursday, having started the year at 1.65p.