DGO rasies cash for NTM deal
PERTH (miningweekly.com) – Gold developer DGO Gold is undertaking a one-for-six non-renounceable pro-rata rights offer in the hopes of raising some A$2.7-million.
The shares on offer will be priced at 65c each, representing a discount of 7.14% to the company’s closing price over the last month, and a 4.41% discount to the closing price of DGO shares on February 1.
The company on Tuesday said that funds raised would be used to fund research and development into sediment-hosted gold mineralisation, to pursue further investments in brownfield gold opportunities in Western Australia, and to fund the second tranche of an investment into explorer NTM Gold.
DGO in November of last year announced that it would invest up to A$2-million into NTM Gold, in two tranches, to gain a 13.2% interest in the company.
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