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Gascoyne Resources has raised funds for the development of its Dalgaranga gold project in the Murchison region.

Gascoyne raises $55m for gold project

Perth-based explorer Gascoyne Resources has confirmed a $55 million capital raising to fund development of its Dalgaranga gold project in the Murchison region.

Gascoyne told the market this morning it would raise $50 million from investors through the placement of shares at a price of 50 cents each, and would raise a further $5 million by way of a share purchase plan at the same price.

The proceeds of the raising will be put towards the company’s Dalgaranga project, which has a development capex estimate of $86 million, according to a feasibility study completed in November.

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Share Price

Closing price for the last 90 trading days
Source: Morningstar

Total Shareholder Return as at 31/01/17

1 year TSR5 year TSR
21stMOD Resources644%-24%
48thXState Resources377%-27%
82ndGascoyne Resources242%17%
683 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

16/12/16
$0 Issued
26/10/16
$598k Other
26/10/16
$846k Sold
Total value as at the date of the transaction
Source: Morningstar

Revenue

262nd↑Gascoyne Resources$91k
271st↓XState Resources$74k
272nd↓Australia Asia Minerals$73k
274th↑International Goldfields$72k
275th↑MOD Resources$70k
504 listed resources companies ranked by revenue.
Source: Morningstar

Remuneration from Gascoyne Resources

398thMichael Dunbar$396k
1414thEva O'Malley$69k
1838thRodney M Joyce$25k
Ranked by total remuneration from all listed WA companies

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