Irish exploration group Ovoca Resources has said it raised £440,000 after placing two million ordinary shares at 21.75p per share. The proceeds will fund ongoing exploration work in Ovoca's Irish base metal targets in the midlands.

Last year, the company raised £325,000 after placing 2.1 million shares at 15.5p each. A week ago, further development and expansion of its exploration activities were announced. These include a diamond drilling test programme near its zinc deposit mine in Longford, geophysical surveys in Tipperary, and exploration in Galway and Roscommon.