Alma Metals raised $1.8 million for further exploration at its Briggs copper deposit in Queensland.

The capital was secured through a share placement at 0.8 cents per share, with director participation contributing $200,000 pending shareholder approval.

Alma plans to offer a share purchase plan to eligible shareholders, aiming to raise up to $1 million under the same terms.

The funds will support the expansion and drilling initiatives at the Briggs deposit, primarily focusing on enhancing and potentially upgrading its inferred mineral resource.