AIM-quoted Tertiary Minerals (LON:TYM) raised £350,000 through a placing to institutions of around 13mln shares at 2.65p each.
It will use the funds for the continuing evaluation and development of its key fluorspar projects and for working capital purposes. Shares closed last night at 3p.
Richard Clemmey, the MD, said: "This small fundraising will allow the company to maintain momentum on its key fluorspar projects and in particular to continue with the evaluation of our exciting MB Fluorspar project in Nevada and to continue progress with the permitting and feasibility stages at our more advanced Storuman project in Sweden."
Tertiary shares eased 4.17% to 2.875p.
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