Stavely Minerals Ltd. aims to raise A$19.6 million through a share placement to accelerate copper-gold exploration in Australia.

The company is offering 19.6 million shares at A$1.00 apiece. Morgans Corp. Ltd. is lead manager and Hartleys Ltd. is co-manager of the placement, which was made to sophisticated and institutional investors.

Stavely said Oct. 14 that it aims to fast-track drilling at its Gossan prospect, part of its namesake project in Victoria, where it recently made a "stunning discovery," as well as other gold targets in Tasmania and Queensland.