29Metals (ASX:29M) launched the retail component of its fully underwritten 1-for-3.66 accelerated non-renounceable entitlement offer, targeting around AU$31 million as part of a total AU$150 million capital raising, according to a Wednesday filing with the Australian bourse.

Eligible retail shareholders may subscribe for new fully paid ordinary shares at AU$0.40 each, per the filing. The retail entitlement offer is expected to close on Feb. 11.