PERTH (miningweekly.com) – Gold developer Draig Resources has raised A$8-million through a share placement to advance its Bellevue gold project, in Western Australia.
The company has placed 40-million shares, at a price of 20c each, to raise the capital. The shares were placed under the company’s existing capacity.
Draig executive director Steve Parsons said on Friday that the funds raised will be used to fund ongoing exploration activities and general working capital at the Bellevue project.
“Our flagship Bellevue gold project is now well positioned to complete all medium-term exploration activities, and for us to release a resource estimate in the third quarter of 2018.”