Burey GoldLtd. will raise around A$11.6 million to accelerate exploration atits Giro goldproject in the Democratic Republic of Congo after successfully completing abookbuild.
The ASX-listed explorer said July 6 that it will issue about215 million shares at 5.4 cents apiece to two international resource funds anda number of domestic and international institutional and professional investors.
The cash raised will fund various drilling programs at theGiro project, including infill drilling at the Kebigada prospect to define amaiden inferred resource as well as reverse circulation and diamond drilling atthe Douze Match prospect.
Hartleys Ltd. and RFC Ambrian Ltd. acted as joint leadmanagers for the placement.