- Black Cat Syndicate (BC8) has received strong commitments to raise $20 million via a share placement
- The funds raised set to support exploration, mill equipment purchases, feasibility studies and working capital
- The placement supports the company’s low-capex, rapid start-up strategy for the Kal East Gold Project, which returned high-grade results last month
- Sophisticated and professional investors have also committed to the issue of approximately 27.5 million shares at 67 cents each
- Directors and their related parties are seeking to participate in the placement for an amount of $1.41 million, subject to shareholder approval
- Shares resumed trade this morning, 4.5 per cent lower at 74 cents each
