NTM raises cash for exploration

ASX-listed junior NTM Gold will raise A$3.86-million to accelerate the exploration on its Redcliffe gold project, in Western Australia.

The company on Monday announced that it would issue some 100-million shares, at a price of 3.25c each, to institutional and sophisticated investors. The share placement will be conducted under NTM’s existing capacity and will not require shareholder approval.