Goldstream to raise $7.84m

Goldstream Mining NL has completed a share placement to raise $7.84 million.

The funds will be used to advance the scoping and feasibility studies for the company's Cairn Hill iron ore, copper and gold project in South Australia, and also increase exploration at its Mount Woods South Australian project, and its Tanzanian project.

Bell Potter Securities and Pattersons Securities will be join managers of the capital raising, which is made up of 14 million shares at 56 cents each.

The offer will be primarily directed at Australian and international institutional investors