Xanadu Mines
(ASX:XAM) has raised $15.4 million through a placement, to accelerate exploration at its flagship copper and gold project.
The exploration company says the placement was heavily oversubscribed, and allows its Kharmagtai project to continue.
The company says the capital injection allows Xanadu to be debt free and fully funded to pursue drilling programs.
Bell Potter was the lead manager on the placement.
Shares in Xanadu Mines
(ASX:XAM) are trading 5 per cent higher to $0.21.
