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Croesus secures mine expansion

CROESUS Mining has raised $15 million through a convertible note issue to Macquarie Bank. The facility will be used to expand gold production at Croesus’ Norseman operations by fast-tracking development, and maintain an aggressive exploration focus on the tenements, the company said. The issue follows a recent resource estimation upgrade after drilling by Croesus in the area, and the sale of a royalty to Troy Resources for $1.1 million cash and 200,000 shares in Troy.

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