Argonaut raises exploration funds

ASX-listed Argonaut Resources has raised a$2.7-million in a private placement, with the company hoping for a further A$1.9-million through a share purchase plan (SPP).

Argonaut placed 491.6-million shares at a price of 0.55c each to professional sophisticated and institutional investors under the company’s existing placement capacity, to raise the initial A$2.7-million.