Ausgold Limited raises AU$12.0 million to continue expansion and development of KGP

Ausgold Limited (ASX: AUC) has announced that it has received firm commitments from domestic and international institutional and sophisticated investors to subscribe for 266,666,667 new fully paid ordinary shares in the company at an issue price of AU$0.045 per new share, raising AU$12 million. The issue price indicates a 6.3% drop from the previous year's price.

The placement proceeds will be used to continue resource expansion drilling and regional exploration, complete the KGP definitive feasibility study, conduct a scoping study for increased KGP plant throughput/annual gold production, and settle property acquisitions, and for general and corporate purposes.

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