Junior mining interest Nkwe Platinum Ltd has closed its $10 million capital-raising offer six days before schedule because of heavy over-subscription, reports the West Australian newspaper.

The initial public offer to raise capital for an exploration in South Africa's Bushveld Complex opened on the eighth of September and was originally expected to close on the 17th.

The company's managing director, Craig Oliver, said the offer of 20 million shares at 50 cents each had been well received by investors, and that there had been 'a significant response' from the New South Wales Local Government Superannuation Scheme.

'The considerable support for this IPO is recognition of the potential of Nkwe's portfolio of South African assets in the Bushveld Complex and the strong platinum price', he said.

The company's first priority is to move the exploration process on to a more advanced stage, and then extend its interests with more South Africn platinum prospects through joint venture and agreements with existing partners.

The Bushveld complex yields the greatest platinum group metals resources in the world, producing 70 per cent of its platinum and 40 per cent of its palladium last year.