West Cobar Metals announced a capital raising initiative totalling $1.3 million.
The funds will be utilised to advance the company's copper exploration projects in New South Wales and Western Australia, along with the Salazar Critical Minerals Project.
The capital raising includes a $966,000 share placement to institutional investors and a $381,000 entitlement offer to eligible shareholders.
The share placement will involve issuing approximately 30.2 million shares at 3.2 cents per share.