Excelsior Gold has completed a $4.8 million capital raising to fund the development of its Kalgoorlie North gold project.
The Perth-based gold junior announced today it had successfully completed a private placement of 40 million shares at 12 cents per share.
BBY Limited acted as lead manager to the placement.
“The company considers the investment from investors to be an overwhelming endorsement of the Kalgoorlie North gold project and provides support for Excelsior Gold to progress the pre-feasibility and infrastructure relocation studies required to bring the Excelsior deposit and surrounding satellite deposits into production,” it said in a statement to the ASX.
AT 11:40AM WST, Excelsior stocks were down 3.5 per cent, trading at 13.5 cents.