Perth-based gold explorer CGA Mining Ltd has successfully raised $C35 million ($A36.5 million) with funds raised to contribute to the development of its Masbate gold mine in the Philippines.
Perth-based gold explorer CGA Mining Ltd has successfully raised $C35 million ($A36.5million) with funds to contribute to the development of its Masbate gold mine in the Philippines.
The equity raising was through a private placement of 21.2 million shares sold at $C1.65 each or $A1.74.
The proceeds, in combination with existing cash reserves and a $US80 million senior debt facility being arranged by BNP Paribas, will be used to fund construction of the Masbate Gold Mine in the Philippines, including the acquisition of a power plant and general working capital.
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