Paramount completes share placement
Friday, October 19 2012 - 01:36 AM WIB
By Demas Simbolon
Australian mineral resource exploration Paramount Mining Corporation Limited said that it has completed a share placement raising AU$1,500,020 through the issue of 21,428,857 shares to international investors at an issue price of 7 cents per share.
It said that the raising will support ongoing exploration and development activities at the Company‟s Gunung Rosa high grade gold-silver-base metals project in West Java Province, Indonesia.
The Gunung Rosa project is presently the flagship project for Paramount and the Company holds a 72.25% equity interest in the project.
Editing by Adianto P. Simamora