Cassius Mining (ASX:CMD) received firm commitments from investors to raise AU$530,000 via a share placement, according to a Thursday filing with the Australian bourse.

The placement is for roughly 35.5 million new fully paid ordinary shares issued at AU$0.015 apiece.

Cassius Mining directors pledged to subscribe for up to an additional AU$50,000 on the same terms as the placement, pending shareholders' approval.

Funds will be used for the Madagascar Soalara limestone project, the Ghanaian international arbitration, and other new opportunities, per the filing.