Western Gold Resources (ASX:WGR) has completed a $720,000 capital raising through a share placement at $0.04 per share, representing a premium of 28% to the 30-day trading VWAP of $0.0312 per share.
GTT Ventures acted as lead manager to the placement.
Funds raised will be allocated to working capital, supporting the ongoing advancement of the Gold Duke Project towards production through metallurgical work, grade control and infill planning, approvals and corporate costs.
Western Gold Managing Director Cullum Winn says the equity raise strengthens the company’s financial position as it continues to advance its flagship Gold Duke Project towards first production in a very buoyant gold market.
Write to Adam Orlando at Mining.com.au
Images: Western Gold
