Shares in Perth-based Apex Minerals have been placed in a trading halt ahead of an announcement relating to a $5 million capital raising.

In April the struggling gold miner put its Youanmi gold project near Sandstone up for sale.

The proposed capital raising will be completed through the issue of 250 million shares at 2 cents per share via a placement to institutional and sophisticated investors.

In a statement Apex said it expects the capital raising to occur before the commencement of trading on Friday.