Calidus raises A$9m in share placement
PERTH (miningweekly.com) – Gold hopeful Calidus Resources has completed a A$9-million share placement to institutional investors, allowing the junior company to undertake an extensive resource and exploration drilling campaign and complete definitive feasibility studies at its Warrawoona gold project, in the Pilbara region of Western Australia.
Calidus placed more than 281.3-million new shares, priced at 3.2c a share, to institutional investors.
“The equity raising follows the release of an outstanding prefeasibility study which shows the Warrawoona gold project will be a robust operation with strong financial returns,” said Calidus MD Dave Reeves.
“Calidus is now well positioned to fund the next stage of growth through continued exploration success and project development at the Warrawoona gold project.”
The prefeasibility study at Warrawoona estimated that at a capital cost of A$95-million, the project could recover some 580 490 oz of gold over an initial six-year mine life.
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