Pursuit Minerals (ASX:PUR) has received firm acceptances for a substantially oversubscribed placement of shares at a 10 cents each to raise $1.61 million.

The shares have been placed with a variety of institutional and sophisticated investors, primarily in Australia.Pursuit will use the proceeds from the placement to develop its vanadium exploration projects in Finland and Sweden, as well as its zinc projects in north-west Queensland . . .

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