Platina Resources Raises $2.23m to advance WA gold projects
- Platina Resources (PGM) receives firm commitments to raise $2.23 million through a share placement to fund its WA gold portfolio
- The money will be directed towards reverse circulation drilling at the Xanadu project, phase two air-core drilling at the Challa project, acquisition costs of Sangold Resources, and working capital
- Further, Platina may use the funds to progress its master alloy development program and permitting work to secure a mining license for its namesake scandium project in NSW
- The company will issue up to 89 million new shares at 2.5 cents per share as part of its placement capacity to raise the funds
- Shares in Platina are trading 11.11 per cent lower at 3.2 cents per share at 1:16 pm AEST
