Mundo Minerals has announced a $3 million capital raising to accelerate gold production and exploration at its gold projects in Peru.
Mundo said today that it had secured the support of several new sophisticated and institutional investors for a $3 million share placement, priced at 4.5 cents per share.
Cygnet Capital acted as lead manager to the placement, which will fund Mundo’s plans to ramp up production at the Torrecillas gold project in Peru.
As part of the raising, Anglo Pacific Group agreed to a six-month standstill over Mundo’s existing debt facility, with an option to extend for a further six months.
Mundo said it was currently working with South American banks to refinance the facility locally in Peru.
At close of trade today, Mundo stocks were steady at 4.6 cents.