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Golden Rim raises exploration funds

2nd February 2021

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

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PERTH (miningweekly.com) – Junior Golden Rim Resources has raised A$5-million through a share placement to advance exploration at its Kada gold project, in Guinea, and its Kouri gold project, in Burkina Faso.

The ASX-listed company on Tuesday announced that it would issue more than 555.55-million shares, at a price of 0.9c each to qualified institutional, sophisticated and professional investors.

The majority of the shares would be placed under the company’s existing placement capacity, with the issue of only 125.7-million shares subject to shareholder approval at the company’s next general meeting.

Golden Rim on Tuesday said that funds would be used to advance exploration work at its West African gold projects, where drill programmes are planned to estimate a maiden resource at Kada, while a resource upgrade is expected at Kouri in the second half of the year.

“We are extremely pleased with the demand received in the placement and we welcome a number of new institutional and sophisticated investors to the share register,” said MD Craig Mackay.

“We look forward to aggressively pursuing our work programmes through 2021 and beyond and continuing to deliver value for shareholders.”

Edited by Creamer Media Reporter

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