Northern Minerals (ASX:NTU) completed the second tranche of its two-tranche placement issuing roughly 2.18 billion shares in total to raise AU$41.5 million following shareholder approval, according to a Thursday filing with the Australian bourse.

Additionally, sub-brokers to the placement accepted new shares for brokerage fees, and the company issued 58.5 million shares at an assumed price of AU$0.019, the filing said.