Shares in junior miner Excelsior Gold were pummelled today after the company's new board revealed the full extent of operational issues at its flagship Kalgoorlie North mine.
Five Perth-based junior miners and explorers have announced plans to raise a combined $29.8 million to fund ongoing work at their respective projects, with Excelsior Gold also attracting a new cornerstone investor.
Excelsior Gold says a revised ore treatment agreement with Norton Gold Fields will remove an upfront $12.5 million payment for a milling allocation, with the savings to provide flexibility to further develop its Kalgoorlie North gold project.
Perth exploration firm Excelsior Gold has executed a binding term sheet that will provide a guaranteed long-term milling allocation at Norton Gold Fields' Paddington Mill.
Perth-based uranium explorer Atom Energy Ltd has closed its initial public offer fully oversubscribed, raising $10 million to fund exploration of its Northern Territory tenements.
