Bermuda-based junior South American Gold & Copper (TSE) has completed a private placement of 5.1 million shares at US80 cents per share.
The US$4 million in proceeds will be used to explore and develop the Peregrino, Cateador and Antena gold projects in Chile. (The Peregrino was recently found to contain 86,113 tons grading 0.13 oz. gold per ton and 1.37% copper.)
The company now has 25.7 million common shares outstanding.
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