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Crucible raises cash for exploration

8th May 2014

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – Junior gold explorer Crucible Gold is aiming to raise up to A$1.5-million through a pro rata renounceable right issue, the company reported on Thursday.

Shareholders would be allowed to subscribe for two new fully paid ordinary share for every share held, at a price of A$0.025 a share.

Crucible would issue up to a maximum of some 60-million new shares under the renounceable rights issue, which would result in a total of more than 90-million fully paid ordinary shares on issue.

The junior told shareholders that funds raised under the issue would be used to continue exploration on its existing West African assets, to evaluate and assess the commercialisation of voice recording technology and to review potential new projects.

Edited by Creamer Media Reporter

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