Wishbone Gold PLC - precious metals trading and exploration company - Plans to raise GBP1.8 million through private placing of 17.5 million shares at a price of 10 pence each. Proceeds will go towards exploration and drilling operations at Red Setter project in Australia.
"This placing provides the company with strong cash reserves to push forward with exploration on the new Red Setter project in the Patersons Ranges near Telfer in Western Australia. It will also allow us to extend the exploration efforts in Queensland to include the newly applied for Wishbone 6 EPMA, which adjoins Wishbone's other leases just north-west of the Ravenswood Gold Mine," said Chair Richard Poulden.
Current stock price: 13.10 pence
Year-to-date change: up sharply from 1.90p
By Dayo Laniyan; dayolaniyan@alliancenews.com
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Wishbone (WSBN)