Cortona Resources to raise A$3.5m in placement for Dargues Reef Gold Project
Cortona Resources (ASX: CRC) has exited a trading halt after announcing a placement to progress the Dargues Reef Gold Project.
Cortona will issue 25 million shares at $0.14 to raise $3.5 million, and highlighting support for the company, the placement was oversubscribed.
The company's mining contractor GBR Mining and Industrial Services has committed to subscribe for $1 million pursuant to the placement.
The funds can now progress the early site work and design for key plant items at Dargues, such as the ball mill and other long lead items.
Importantly - these costs are included in the Dargues Feasibility Study.
Related news
- London Mining remains on track to hit 2012 production target at Marampa
- Ceres Power Holdings reports significant improvements of its fuel cell products
- Oxford Catalysts Group shares advance as it announces first start-up of FT reactor
- Mariana Resources kicks off drilling programme at Las Calandrias gold-silver project
- Orogen Gold begins Phase 1 drilling programme at Deli Jovan
- Magnolia Petroleum on track to hit 100 wells target by end-2012
- Mwana Africa sells 15pct stake in Freda Rebecca gold mine for $405k - UPDATE
