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Egan Street secures A$11.9M to advance Rothsay gold project

Egan Street Resources Ltd. secured A$11.9 million of funding through the exercise and underwriting of its listed options, it said March 8.

The company will use the funds to continue exploration and development at the Rothsay gold project in Western Australia, where it is updating the mineral resource estimate to complete a definitive feasibility study in the second quarter.

EganStreet entered an agreement to underwrite its listed options up to a value of A$6.9 million, which were issued as part of its IPO in September 2016. The options will expire March 13.