Oropa raises $464K for work on Indonesian gold project

South Perth-based gold explorer Oropa Ltd has raised $464,000 in a placement to progress its Pungkut gold project, the company has announced.

The full text of a company announcement is pasted below

The board of directors of Oropa Limited ("Oropa") is pleased to announce the placement of 10,300,555 ordinary fully paid shares at a price of 4.5 cents each to raise $463,525.00. The placement has been made to offshore and sophisticated investors.

Oropa intends to apply the funds to progress and continue exploration of its Pungkut gold project in Indonesia and to
commence exploration of its recently acquired uranium tenements in Malawi.

The new shares will rank equally with other ordinary shares on issue.