Perseus Mining to raise $11.5m

Nedlands-based mineral exploration company Perseus Mining Ltd have finalised plans for an $11.5 million capital raising, to fund exploration of its gold projects in Ghana, Ivory Coast and the Kyrgyz Republic.

The company will offer 10 million shares at $1.15 each, with the offer to be managed by Montagu Stockbrokers.

Announcement pasted below:

The Directors of Perseus Mining Limited advise they have finalised plans for an offer of 10,000,000 shares at an issue price of $1.15 each to raise $11.5 million for the purposes of funding exploration and feasibility activities on its gold projects in Ghana, Ivory Coast and the Kyrgyz Republic. In particular, the number of rigs operating on the Ayanfuri, Tengrela and Tolubay projects will be increased.

Montagu Stockbrokers managed the offer and the shares have been placed with institutional clients in Australia and Europe.

This placement capitalises on the strong interest in the Company and its projects and the exploration success that the Company has enjoyed in the past few months. The Company's cash position will be approximately $17 million post the placement.