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Local gold explorers Echo Resources and Kairos Minerals have raised a combined $22 million from investors to fund ongoing work at their respective projects in Western Australia. Echo announced today it had raised $15 million through the placement of 68.2 million shares at 22 cents each, representing a 3.7 per cent discount to its 10-day volume-weighted average price.
Gold explorer Echo Resources has tapped investors for $5 million to fund ongoing development of its Yandal project near Wiluna. Perth-based Echo will raise $4 million from investors through the placement of 40 million shares at 10 cents each, and plans to accept $1 million in oversubscriptions. The price of the raising represents at 16.5 per cent discount to the company’s 30-day volume-weighted average price. To read more, please Login or Register below
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