West Perth-based gold explorer Goldstar Resources NL has increased the value of a placement to investors after an Australian funds manager signed on to take 2.5 million shares at 43 cents each, raising $1.1 million.
With the extra money on board, Goldstar will aim to raise $5.2 million through the placement of 12 million shares to investors, helping it complete a feasibility study on its Eureka project.
The full text of a company announcement is pasted below
Goldstar Resources NL wishes to advise, further to the Share Placement announcement made yesterday, that the Company has resolved to accept a late application for participation in the Placement from an Australian funds manager for 2,500,000 shares at the placement price of 43c ($1.075 million).
The Placement is now completed. The total number of shares to be issued is 12,035,000 and the proceeds of the offer before costs is $5,175,050.
The intended use of the funds remains as advised in our previous announcement.
