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LONDON (Alliance News) - Australian gold miner Keras Resources PLC on Friday said it raised GBP1.3 million through a share placing to accelerate the development of its Australian gold portfolio.
Keras issued 113.6 million shares at 1.1 pence per share to raise the funds. The stock closed at 1.2p in London on Thursday.
The company said the proceeds will be used to fast-track production at the high-grade Prince of Wales underground mine and at Lindsay's mine, both in Australia.
"We are delighted to have received such strong support from our shareholders for this placing. With these funds secured we can now accelerate production at these two key assets in the portfolio, namely the Prince of Wales and Lindsay's mines," said Keras Managing Director Dave Reeves.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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