Empire Metals has raised £1.25mln before expenses through a placing at 2.25p each to accelerate its plans at the Pitfield copper project in Western Australia.
With the placing funds, Empire said it is now fully funded for an expanded maiden drilling campaign at Pitfield.
Shaun Bunn (managing director) and Greg Kuenzel (finance director) each subscribed for 1.11mln placing shares.
Bunn said: “With this raise the company will prepare for a more comprehensive and expanded exploration drilling programme at our emerging "Giant" copper exploration project at Pitfield.
"The technical advances at Pitfield, and our understanding of the geology, has grown rapidly over the past few months.
“ As a result, we have many drill-ready targets and we are very excited to commence our maiden reconnaissance drilling programme at Pitfield in the coming weeks."