St Barbara raise $59.4m to fund potential project developments

West Perth-based gold company St Barbara Ltd has raised $59.4 million to fund potential project developments and corporate activities.

The company placed 99 million shares at 60 cents each.

The shares have been placed to international and Australian institutions, and professional investors.

The placement was managed by Southern Cross Equities for a fee of 4 per cent.

Following the placement, the issued capital of the company is over 821 million fully paid ordinary shares and over 33 million unlisted options.

Prior to today's announcement, the company announced a trading halt on the 15th May.

At market close, shares in St Barbara were down 2 cents to 62 cents.