Shanta Gold Limited: Shanta Gold raises approximately $20 million in an equity placement

Shanta Gold (LON:SHG) announced the successful placing of 51,132,227 new ordinary shares in the capital of the Company at a price of 25p per share to raise approximately $20 million before expenses.

The press release is quoted as saying:

The net proceeds of the Placing are to be utilised in the development of the Company’s Luika Gold Mine and to continue its exploration programmes.

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