Orinoco Gold continues suspension for capital raising

Company News

by Rachael Jones

Orinoco Gold (ASX:OGX) has requested an extension of voluntary suspension pending their potential for capital raising.
The re-emerging gold miner is looking to raise as much as $15 million via a placement.

South Africa's AngloGold Ashanti owns a 14.65 per cent stake in Orinoco – the company is managing the raise internally.

Funds raised will be used to ramp up production at Cascavel to 5,000 ounces per month by year end, and to begin a $3 million drilling programme.
 
Shares in Orinoco Gold (ASX:OGX) last traded at 13c

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.