SolGold has raised £1m at 3p a share to finance further exploration of the Cascabel project in Ecuador.
The cash will finance phase 2 of drilling at the copper gold project. Hole 9 at the project has intersected more than 1km of visual copper sulphides. This provides further evidence of the potential for a copper gold resource at Alpala.
Further cash will be spent on maintaining the interests in Australia and the Solomon Islands.
At 3.13p a share, the enlarged share capital is valued at £21.5m.
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