Exploration company Ormonde Mining has raised £1.4m (€1.7m) through a share placing.
It has placed almost 19.4 million shares with institutions and other investors at a price of 7p. The new shares represent about 9% of the total share capital.
The company says the money will be used on its Barruecopardo tungsten project in Spain, where it recently upgraded its estimate of how much metal is contained. Ormonde plans to complete drilling and start working on preparations for mining at the site.
