Ovoca Resources has raised €793,800 (£625,168) through the placing of new shares. The placing has increased the number of shares by 7.4 per cent. The shares were placed at €44c (33p) per share.

The company said the proceeds will be used to fund ongoing exploration work of its Irish base metal targets. It is currently drilling on a licence area in Co Tipperary. One hole has been completed and another is in progress.