Orinoco Gold continues suspension for capital raising
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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