Carrick Gold raises $18m

Perth-based Carrick Gold Ltd has raised $18 million after placing 10.6 million shares in the company at $1.70 each to investors and clients of BBY Ltd.

The funds will be used to further fund resource block-out drill programmes, and for working capital purposes.

In February this year, the company made a successful $23 million cash-and-scrip takeover offer for the Frank Carr-chaired gold explorer Shannon Resources Ltd, which secured highly prospective gold and nickel tenements within the Kurnalpi Project near Kalgoorlie-Boulder.

The bid met with acceptances for 96 per cent of Shannon Resources Limited followed by compulsory acquisition of the remaining shares of Shannon Resources.