Kibo Mining (LON:KIBO) has received the £522,800 from a placing that was delayed when broker Hume Capital went into administration.
The cash, for 10.5mln new Kibo shares, had been paid into Hume Capital's client money account during February 2015.
Kibo arranged a bridging loan with Sanderson Capital to tide it over while it waited the administrator to pay out the money.
Sanderson has now agreed to take £300,000 in shares and defer the remaining £200,000 plus £50,000 fee for 28 days.
Louis Coetzee, Kibo’s chief executive, said: "We are delighted that we have now received the Hume money and equally so with the outcome on the renegotiated Sunderland facility.
“The Hume money and amended Sunderland facility will significantly enhance Kibo's cash position.”