Wishbone Gold PLC (LON:WSBN) has raised £400,000 in a placing at 0.8p to advance the company, which is a precious metal trader and has exploration assets.
The firm issued 50mln new shares and around 3.07mln warrants with an exercise price of 1.3p with a life of two years to broker Beaufort Securities.
Chairman and chief executive Richard Poulden, said: "We are raising this funding to use for general working capital purposes and specifically for investment.
"Our debt facilities are primarily limited to supporting the trading operations. This concludes our current round of equity raising".
Last month the firm posted half year results to end June and said it had inked supply agreements with companies in Peru, Ghana, Chile and Colombia.
Wishbone raised funding for gold trading to begin at the beginning of June, therefore the results contained no trading figures.
The loss before tax was narrowed to around $185,000 compared to a loss of $500,000 last year. Cash in the bank was around $418,000 (2015: $108,000).