Ausgold Limited (AU:AUC) has released an update.
Ausgold Limited has successfully completed a two-tranche institutional placement, raising $38 million before costs, with the second tranche bringing in approximately $24 million. Additionally, the company managed to address outstanding loan notes by setting them off against the new share issuance or redeeming them through the placement’s proceeds. Ausgold, a gold exploration and development company, holds significant projects in Western Australia, including the notable Katanning Gold Project with a reported resource of 3.04 million ounces of gold.
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