INTERCEPTS Wed 23/07/2014

Dragon to speed work at Kuusamo

7th Feb 2012

PERTH, Feb 7 – Dragon Mining will accelerate work towards the feasibility and development of the Kuusamo gold project in northern Finland with the proceeds of an A$15M placement to Australian and New Zealand shareholders.

Net proceeds of the placement will also support exploration on Kuusamo regional prospects.

The renounceable 1-for-5.5 placement of up to 13.7M shares at $1.10 will be fully underwritten by Patersons Securities and fully sub-underwritten by Dragon’s largest shareholders, Eurogold(19.99%) and Nicolas Mathys (15.5%).

Eurogold announced that it will be supported if necessary by its largest shareholder, the Allied Group of Hong Kong, to finance its $10M subunderwriting commitment.

 

HighGrade

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