Gold Road Resources Limited
(ASX:GOR) is set to launch an institutional placement and a 1 for 10 pro rata accelerated non-renounceable entitlement offer to raise approximately $74 million.
The gold producer will conduct an institutional placement to raise approximately $43 million.
An additional $31 million is expected to be raised through the entitlement offer. New shares will be issued at 44 cents per share.
Gold Road is currently fully funded. Use of proceeds includes the purchase of long lead time capital items, commencement of early works and front end engineering and design.
Gold Road Resources recorded a net loss of $2.62 million at 31 December 2015.
