Small cap resources outfits Atrum Coal and Sunstone Metals were...

Small cap resources outfits Atrum Coal and Sunstone Metals were fronting funds on Monday morning, in an effort to raise money to fund drilling and exploration activities.Small cap resources companies Atrum Coal and Sunstone Metals were on the hunt for fresh equity on Monday. Erin JonassonCanada-focused coal explorer and developer Atrum Coal was looking to raise $20 million through a two tranche placement.The offer was priced at 23¢ a share, which represented a 17.9 per cent discount to Atrum's 28¢ last close, according to terms sent to funds.Argonaut was lead manager on the raise, with Petra Capital pitching in as co-manager and joint book runner. The pair were calling for bids into the placement by 5pm on Monday.Funds were told the $134 million company would use the proceeds to complete a pre-feasibility study at its Elan hard coking coal project, located in southern Alberta, Canada.