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Kryso Resources

  • BY: Andrew Hore |
  • POSTED: 19/08/2009 |

Kryso Resources has raised a further 495,000.

Orbis Equity Partners has raised 1.22m in total at 5p a share. One warrant, giving the holder the right to buy a share at 8p, has been issued with each share.

Shares in Kryso fell 0.375p to 6.75p a share, which values the gold miner at 8.34m.

A bankable feasibility study for the Pakrut gold project is in progress and the cash will be used to finance this and further drilling. The plan is to start mining at Pakrut in Tajikistan in 2011 and production should be in excess of 100,000 ounces of gold a year. Cash costs are expected to be around $300/ounce.

The bankable feasibility study should be complete by the end of 2009. 

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