Xanadu Mines on Monday announced plans to raise A$13.6-million - TopicsExpress

Xanadu Mines on Monday announced plans to raise A$13.6-million through a rights issue and share placement programme to advance its newly acquired Mongolian copper/gold porphyry portfolio. Xanadu aimed to use half of the generated funds to pay down up to $10-million of the 18-month deferred consideration for the $14-million deal to acquire a 90% interest in Turquoise Hill subsidiary Oyut Ulaan, which holds the Kharmagtai porphyry copper/gold project, in the South Gobi region of Mongolia. miningweekly/article/xanadu-to-raise-a136m-to-advance-mongolia-assets-2014-10-06

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