trending Market Intelligence /marketintelligence/en/news-insights/trending/V5qfH3eJE_VJCzvTRKVz9g2 content esgSubNav
In This List

Gold Mountain raises A$6.7M in oversubscribed placement

Blog

Insight Weekly: Job growth faces hurdles; shale firms sit on cash pile; Africa's lithium future

Blog

Insight Weekly: Loan growth picks up; US-China PE deals fall; France faces winter energy crunch

Blog

Insight Weekly: CEO pay jumps; yield curve inversion deepens; wind giants lift turbine prices

Blog

Watch Nickel Market Outlook Complex Demand Supply Fundamentals


Gold Mountain raises A$6.7M in oversubscribed placement

Gold Mountain Ltd. raised about A$6.7 million in an oversubscribed private placement, the company said Oct. 5.

The company previously had funding commitments of A$5 million.

Gold Mountain's shares were priced at 10 cents apiece, with one free option attached for every two shares issued. The options are exercisable at 15 cents apiece by June 30, 2019.

Proceeds will be used for drilling and a bulk sampling program to estimate a JORC-compliant resource at its flagship Crown Ridge gold project in Papua New Guinea.

Meanwhile, the company mobilized a drilling rig targeting high-grade gold veins mineralization at the project.