Perth-based companies Jadar Resources and Tempus Resources are raising funds to progress their projects in Australia and Canada.
Today, Jadar said it would raise $3.5 million from a share placement to fund its recently announced acquisitions, including two past-producing tin projects in the Northern Territory.
The company will issue 116.7 million shares at a price of 3 cents each.
Meanwhile, Tempus is raising about $6.3 million to extend a drilling program at its Blackdome-Elizabeth gold project, north of Vancouver.
Tempus will also allocate some of the funds toward its projects in Ecuador.
The company will issue about 25 million shares through the placement at a price of 25.1 cents per share.
Blue Ocean Equities is acting as lead manager to the raise, expected to be completed at the end of the month.
Shares in Tempus were up 6 per cent to trade at 27 cents while Jadar’s share price was down 12.5 per cent to trade at 2.8 cents.