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Gryphon to raise $10m for gold exploration

Perth based mineral exploration company, Gryphon Minerals, will raise $10 million through the placement of 25 million ordinary shares at 40 cents each for exploration at its Banfora Gold Project in Burkina, West Africa.
The shares will be offered to existing shareholders and sophisticated clients of Euroz Securities in two tranches.
Tranche one will offer 11.1 million shares at 40 cents per share, while the second tranche will place 13.9 million shares also at 40 cents per share.

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