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Drilling work at Musgrave's Cue gold project in the Murchison region.

Musgrave raises funds for gold project

Perth-based Musgrave Minerals has tapped investors for $3 million to fund exploration work at its Cue gold project in the Murchison region.

Musgrave raised the funds through the placement of 40 million shares at 7.5 cents each, with the proceeds to be used to fund further drilling work and undertake a scoping study at Cue.

The project is 60 per cent owned by Musgrave and 40 per cent owned by Silver Lake Resources, with Musgrave holding an option to acquire a further 20 per cent stake in the project through a joint venture agreement between the two companies.

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Share Price

Closing price for the last 90 trading days
Source: Morningstar

Total Shareholder Return as at 31/10/17

1 year TSR5 year TSR
514thPacific Bauxite-14%1%
617thMetals Australia-33%-24%
671stMusgrave Minerals-41%-12%
726 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

04/11/16
$0 Issued
04/11/16
$0 Issued
04/11/16
$0 Issued
Total value as at the date of the transaction
Source: Morningstar

Revenue

259th↑Bora Bora Resources$69k
260th↓Pacific Bauxite$64k
261st↓Musgrave Minerals$59k
262nd↓Noble Metals$59k
263rd↑Metals Australia$56k
491 listed resources companies ranked by revenue.
Source: Morningstar

Remuneration from Musgrave Minerals

513thRobert Waugh$281k
1258thGraham Ascough$65k
1382ndKelly Ross$49k
Ranked by total remuneration from all listed WA companies

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