PERTH (miningweekly.com) – Gold developer Vango Mining has raised A$5.1-million through a share placement to sophisticated and professional investors.
The company on Wednesday said that some 28.3-million shares will be placed at a price of 18c a share, with the funds raised going towards exploration and development of the Plutonic Dome gold project, in Western Australia.
Options were also offered on the basis of one free attaching option for every two new shares subscribed for, exercisable at 27c each and with an expiry date of two years.
The new shares will be issued under the company’s existing placement capacity, and will not require shareholder approval.