3rd Oct 2013 09:07
LONDON (Alliance News) - Noricum Gold Limited Thursday said it has raised GBP2 million to develop it Rotgulden Gold and Precious Metals project in Austria.
The gold exploration and development company said it raised the cash via an oversubscribed placing of 200 million new ordinary shares with new and existing shareholders at a price of 1 pence per placing share.
The company said the funds will be used to advance the company's exploration programme across its Austrian assets, particularly the Rotgulden site, where it is currently carrying out a yearlong drill programme.
Noricum Gold shares were down 11% to 1.07 pence, putting it among the top-ten AIM losers Thursday.
By Tom McIvor; [email protected]; @TomMcIvor1
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