Junior explorer Magma Metals Ltd has flagged plans to list on the Toronto Stock Exchange after raising $8.2 million for exploration at its Thunder Bay North project in Canada.

Perth-based Magma plans to undertake a secondary listing on the Toronto Stock Exchange later this year, subject to continued positive results from its Thunder Bay North platinum-palladium project.

Meanwhile, Magma said it had attracted strong institutional support from Australia, North America and the United Kingdom for an $8.2 million capital raising to further exploration at the project.

Magma sold 23.54 million shares at 35 cents to raise the capital.

©AAP 2008

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