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RTG Mining to raise US$12M in private placement for Philippine projects

RTG Mining Inc.said July 13 that it plans to raise approximately US$12 million in a private placementat a price of 60 Australian cents per share to Australian and international institutionaland sophisticated investors.

Should the offer be oversubscribed, the agents can increase thetotal by another US$3 million.

The offer is scheduled to close around July 22.

RTG plans to use the bulk of the new funds for exploration anddevelopment of the Mabilocopper-gold project and exploration of the Bunawan gold-copper project, both in the Philippines.