Golden Horse raises A$15m for WA exploration
Exploration company Golden Horse has successfully completed a A$15-million placement to fund work at its Southern Cross project, in Western Australia.
The ASX-listed junior received commitments for a placement of 37.5-million CHESS depositary interest (CDIs), underpinned by the same number of shares, at A$0.40 each to raise the funds.
“Both the strength of conviction and quality of the investors that ponied up in this capital raising is a testament to the significance of our Southern Cross project, the team and validation of our forward strategy,” said MD and CEO Nicholas Anderson.
“With a strengthened balance sheet and a busy upcoming programme at Southern Cross we are very well placed to drive value through the drill bit which is our key focus,” he added.
Anderson pointed out that Golden Horse was also continuing negotiations with NT Minerals regarding the potential acquisition of the Redbank copper project to replace an existing earn-in arrangement for A$3-million in cash and CDIs.
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