23/05/2019 - 15:13

Gold juniors to raise $7.1m

23/05/2019 - 15:13

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Gold juniors to raise $7.1m
Crusader and Amani are both gold-focused companies.

Crusader Resources is seeking to raise $4.1 million via a rights issue, while Amani Gold has raised $3 million through a share placement, as both juniors seek to advance their gold projects.

Crusader will offer a 2-for-3 rights issue at a price of 1 cent per share, with the offer to be partially underwritten to $3.5 million by an entity associated with chairman Stephen Copulos.

Funds raised will go towards it’s the definitive feasibility study of its Borborema project in north east Brazil, as well as exploration and holding costs for the Borborema project and its others in Brazil.

The capital will also go towards repayment of short term loans to entities associated with Mr Copulos.

Amani Gold completed a bookbuild to raise $3 million through a share placement at  0.2 cents per share.

Hartleys acted as broker to the offer, and funds raised will be used by the Company to advance its Giro Gold project in the Democratic Republic of Congo,

This includes drilling, mining studies, tenement renewal fees and to advance due diligence on the potential Gada acquisition.

Chairman Klaus Eckhof said the welcomes the support from new investors and existing shareholders

“In addition to drilling commencing and ramping up throughout the year we look forward to, subject to positive due diligence, adding the Gada Gold Project to the Amani Gold portfolio,” he said.

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