- Copper and gold explorer Eagle Mountain Mining (EM2) has raised $1.5 million through a placement
- The company has issued five million fully paid ordinary shares to institutional and professional investors at 30 cents each
- The placement was announced earlier this month and generated strong support from new Australian and European institutional investors
- EM2 also received support from major shareholder, Silver Mountain Mining Nominee, who exercised 4.5 million options early to raise a separate $1.35 million
- The money will go towards further diamond drilling at its 80 per cent-owned Oracle Ridge Copper Mine in Arizona
- Company shares ended the day trading 4.88 per cent higher for 43 cents
