Ausgold Limited (AU:AUC) has released an update.
Ausgold Limited has successfully raised $3 million through unsecured loan notes with major shareholder Dundee Resources and new investors Arlington Group Asset Management and SCP Resource Finance, to fund the completion of the Definitive Feasibility Study for its 3.04Moz Katanning Gold Project in Western Australia. The financing will also support exploration activities at high-potential prospects near the project and other regional targets. This strategic move is geared towards developing one of Australia’s largest new open cut gold projects, underscoring investor confidence in the project’s quality and potential.
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