Wishbone Gold PLC (AIM:WSBN, AQSE:WSBN), the mining exploration group, has raised £1.42mln in an oversubscribed equity fundraiser pricing shares at 2.4p each. Its initial target had been £1mln.
Funds raised will mainly be used to finance exploration programmes on Red Setter and Cottesloe, in Western Australia.
The remaining proceeds will contribute to additional working capital for Wishbone, reflecting strong investor interest in the company's ongoing projects.
Chairman Richard Poulden said: "We are immensely grateful for the support of existing shareholders and new investors in the current challenging financial markets. We are looking forward to the next round of exploration based on the new analysis of Red Setter and Cottesloe."