Kingsrose to raise funds for Way Linggo project
Wednesday, July 20 2016 - 07:10 AM WIB
ASX-listed Kingsrose Mining Ltd is planning to raise up to A$10 million worth funds to help finance the development of its Way Linggo gold project in southern Sumatra, afr.com reported on Tuesday quoting sources.
The news portal said that Bell Porter Securities will raise the funds for Kingsrose. The gold miner is offering the shares at 12? apiece.
The proceeds will be used to complete a haulage shaft at Talang Santo- a second underground mine at its Way Linggo gold project in Indonesia - which will provide access to an orebody with an average grade of 9 grams per ton.
Kingsrose owns 85 percent of the Way Linggo project. (*)