Volta issue funds Burkina Faso drilling
24th May 2012
PERTH, May 24 – West Africa-focused Volta Mining has raised cash to begin RC drilling at its 85%-owned Koro and Ibi Palga gold projects in Burkina Faso with firm commitments to raise $A2.3M through a private placement of 9.2M shares at 25c.
The placement to Australian institutional and sophisticated investors led by Indian Ocean Capital includes 1-for-2 free 30 June 2014 options exercisable at 20c. The second tranche of 6.83M shares and all 9.2M options will be issued subject to EGM approval in late June.
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