Galantas Gold Corporation (LON:GAL, CVE:GAL) has closed the second part of its recently announced share placement.
Subscription agreements to the value of C$2.45mln, roughly equivalent to £1.48mln, have been received at the placing price of C$0.0725 a share, or 4.5p a pop for UK shareholders.
Funds from the issue will augment working capital and will be used to start development of an underground mine on its Omagh property in Ireland.
The company also took the opportunity to declare it knows of no specific reason for the recent increase in the share price.
In London, the shares are up 18.3% over the last month.