Broken Hill Mines (ASX:BHM) said its share purchase plan (SPP) offer opened on Friday and is expected to close on Sept. 16, with the company targeting to raise up to about AU$5 million, according to a Friday Australian bourse filing.

The company previously disclosed that eligible shareholders in Australia and New Zealand can acquire up to AU$30,000 worth of ordinary shares without paying brokerage costs, commission or other transaction costs, with funds to be applied to the Centenary production decline, accelerated resource drilling and infrastructure upgrades and Pinnacles production growth and resource drilling, the filing said.