Dateline Resources announced a renounceable pro-rata offer aimed at raising up to $5.8 million before issuance costs.

The offer involves 972 million new shares at $0.006 each, with shareholders entitled to two new shares for every three existing shares held, plus one new option for every two new shares.

The minimum subscription level for the offer is set at $2 million, which has already received commitments.

"The funds raised will be utilised to further develop our Colosseum Gold and Rare Earths Project, including a mine study and a feasibility study," stated Mark Johnson, chairman of Dateline Resources.