PERTH (miningweekly.com) – Junior gold explorer NTM Gold has raised A$3.6-million after 71.9-million options were exercised at a price of 5c each.
The ASX-listed company on Thursday noted that major shareholders Empire Resources and DGO Gold had both exercised their respective 25-million and 20-million options.
“NTM is pleased to have major shareholders continue their support of the company via the options exercise in difficult market conditions,” said MD Andrew Muir.
The funds raised will be used to continue exploration of the Redcliffe gold project, in Western Australia.
“NTM continues to explore Redcliffe in a safe and efficient manner, with a large aircore programme to start shortly. This programme will test a number of large-scale targets both on and off the Mertondale Shear Zone.”