Emerald raises A$75m for Okvau

Gold developer Emerald Resources will raise A$75-million through a share placement to fund development activities at its Okvau gold project, in Cambodia.

The company would place an initial 762.1-million shares at a price of 4c each, under its existing placement capacity, to raise A$30.4-million, with a further 1.11-billion shares to be placed, subject to shareholder approval, to raise a further A$44.5-million.