Red Rock Resources PLC (LON:RRR) has raised £1mln through a placing at 0.8p per share.
The junior explorer said the new shares come with a warrant attached on a 1 for 1 basis exchangeable at 1.2p.
Andrew Bell, chairman, said: "Red Rock is entering a period of intense activity with active exploration due at its recently restored 1.2 million ounce JORC compliant gold resource in Kenya, and the IPO process for its new and highly prospective gold JV business in the Victoria Goldfields of Australia.”