Richard Poulden, chief executive of Wishbone Gold PLC (LON:WSBN) catches up with Proactive Investors to explain some of the detail around their recently announced new funding deal with institutional investors - arranged by RiverFort Global Capital.
The arrangement comprises a £800,000 share subscription and a separate equity sharing agreement. Up to US$2mln of investment potentially comes from YA II PN Ltd, arranged by RiverFort, with an initial drawdown of US$400,000. Share warrants were also issued as part of the new arrangement.
Funding to one side Poulden also discusses the potential roll out to other countries of their Honduras mining model.
''It's a model that works really well for this sector'', he says.