Miner Platinum Australia Ltd (PLA.AX: Quote) (PLAq.L: Quote) said on Thursday said it raised A$61.2 million ($47.6 million) through a private placement to repay debt for its Smokey Hills Project in South Africa, develop new and existing projects, and for working capital.

It placed 60 million shares with institutional investors at A$1.02 per share, the company said in a statement.

Platinum Australia said it requested the suspension of trading in its shares on the Australian Exchange be lifted.

London-listed shares of the company were up 3.5 percent at 52.50 pence at 0730 GMT on the London Stock Exchange. ($1=1.287 Australian Dollar) (Reporting by Shivani Singh in Bangalore; Editing by Gopakumar Warrier)

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