Junior financing roundup: Xtract, Crusader, Red Gum

By
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.

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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.