Gold Anomaly raises A$3.6mil in share

Business, Normal

The National, Thursday, May 12, 2011

AUSTRALIAN miner listed Gold Anomaly has raised A$3.6 million through a placement at A$0.04 in order to fund a drill programme at the Crater Mountain project in Western, according to proactiveinvestors AUSTRALIA, an Australian business online news on Tuesday.
Executive chairman Greg Starr said: “We are extremely pleased with the response from institutional and high net worth investors to the capital raising which we believe demonstrates strong support for our corporate strategy.”
Gold Anomaly said the placement was substantially oversubscribed and would introduce a number of new institutional shareholders to the company’s register.
The funds raised will go towards ramping up the drilling programme at Crater Mountain where recent assays have provided encouragement that the project may host large tonnage, low grade gold mineralisation.
To date, the company has completed five drill holes on the project’s Nevera prospect for 2,537m as assay results have been reported for the first two of those holes.