Junior financing roundup: Xtract, Crusader, Red Gum

Tuesday, March 31, 2015

London-listed Xtract Resources raised 1.75mn pounds (US$2.59mn) following an ordinary share placement.

The funds will be used for further underground development at the Chépica gold-copper mine in Chile and to carry out drilling and metallurgical work in South Africa, a company statement said.

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The shares of Brazil-focused Crusader Resources will resume trading on April 2 following a trading halt at the Australian Securities Exchange (ASX) pending the release of a capital raise announcement, a securities filing said.

Crusader has a number of prospects in Brazil, including the Posse iron ore and Borborema gold projects.


The shares of Australia's Red Gum Resources have also been halted at the ASX pending the release of a capital raise announcement, a separate filing said.

Red Gum Resources is focused on gold and polymetallic projects in Chile and Peru.