Huntleys' Stock of the Week
Marketplace
Azumah Resources Raises A$4.24m to Accelerate Ghana Au Exploration
Friday November 6, 2009, 9:02 am

Original Announcement: AZUMAH RAISES A$4.24M TO ACCELERATE GHANA GOLD EXPLORATION

Azumah Resources announced it has raised A$4.24m, before expenses, through an oversubscribed share placement as part of its push to fast-track exploration and development of its Wa Au Project in north-west Ghana. The share placement comprises of 21.2m shares at $0.20c/share and has been made to Australian and overseas institutional and sophisticated investor clients of Perth-based Blackswan Equities and Melbourne/Sydney-based BGF Securities. The placement does not require shareholder approval. The company's largest shareholder, Macquarie Bank, is participating in the placement to maintain its 15% holding in the Company. The funds raised will bolster the company's working capital to over A$9m ahead of a 41,000m drilling campaign, and project development studies.

More information about AZM.AX
  •   

    • Copyright © 2010 Yahoo! Pty Limited. All rights reserved.
    Advertise with Us - Privacy Policy - Terms of Service - Help