WA1 Resources has raised $60 million through a placement priced at $17 per share.

The funds will advance drilling, metallurgical testing, and development at the Luni site and West Arunta Project.

Joint lead managers Canaccord Genuity (Australia) and Bell Potter Securities facilitated the placement, attracting strong support from existing and new investors.

Trading of the new shares begins July 18, increasing WA1's shares to approximately 64.9 million.