Kingsrose secures $8.52 m funds through placement
Saturday, January 16 2010 - 12:22 AM WIB
Australian firm Kingsrose Mining Limited said on Friday it had raised A$8.52 million funds through placement of 15 million fully paid ordinary shares.
The company said the proceeds are intended to be applied towards additional exploration and review of the recently acquired zinc/lead tailings deposits in Sardinia, further exploration work at its Way Linggo gold/silver project in Sumatra and funding general working capital.
The Company completed its acquisition of the majority interest of Way Linggo gold/silver mining project in February 2009. The project is located on the island of Sumatra. Kingsrose owns 85% of Indonesian company PT Natarang Mining. (alex)