Pure Alumina raises funds for gold exploration

ASX-listed Pure Alumina has announced its intentions to raise A$2-million through a share placement and entitlement issue to fund exploration work at its gold tenements.

A two tranche share placement of more than 73.2-million shares at a price of 0.9c each, will raise an initial A$659 377, with the first tranche placement consisting of more than 33.2-million shares and to be issued under the company’s existing placement capacity.