(Ecofin Agency) - Golden Rim Resources announces that today 21 September 2018, it completed a $3.392 million capital raising to develop Kouri gold mine in Burkina Faso. The amount was collected thanks to placement that generated about $3 million and a share purchase plan that helped collect $392,000.
The group indicates in a statement that it plans to use most of the funds to finance works at Kouri mine where it believes that there is a great possibility for new mineralization discovery. The works to be done include reverse circulation drilling of Red Hill gold discovery, located 4.5 kilometers from the mining resources, infill auger drilling, and metallurgical test works.
According to the first estimate realized last May, Kouri mine hosts 20.8 million tons of 1.5 g/t grade gold of unexploited resource (1 million ounces of gold).