Platinum Australia raises $14.6m

Platinum Australia has successfully raised over $14 million with funds to be used to reduce overall debt and for working capital.

The company said it had issued 27 million new shares priced at 54 cents each to raise $14.6 million.

Shares in the company have resumed, slipping one cent to 58c at 11:17AEDT.

The issue was managed by Bell Potter Securities and the placement was made to a range of investors.

Proceeds from the capital raising will be used to reduce debt at its Smokey Hills project and for general working capital.

The raising was made under the company's existing 15 per cent placement capacity.