Junior Golden Rim Resources will raise A$5.3-million through a share placement and rights issue to accelerate drilling work at its Kouri gold project, in Burkina Faso.
An initial A$1.82-million will be raised through the placement of some 130-million shares, at a price of 1.4c each to institutional and sophisticated investors, with the balance of the funds to be raised through a 3-for-11 pro-rata renounceable offer, also priced at 1.4c each.