Balkans falls short of $3.2m raising

Subiaco-based Balkans Gold Ltd has fallen short of raising $3.2 million via a rights issue with shareholders accepting shares worth $47,000.

Last month the company announced a two-for-three non-renounceable pro rata rights issue to help fund its acquisition of West African Resources Ltd and ongoing exploration programs.

Today the company said it had received valid acceptances from sharesholders for 471,741 shares, raising $47,124.