White Well moves towards production

Mutiny Gold has completed a capital raising of $612,500 to advance the development of the White Well Gold Project, located 40 km east of Cue in the Tuckabianna mineral field in Western Australia’s Murchison Goldfields.

Mutiny Gold has completed a capital raising of $612,500 to advance the development of the White Well Gold Project, located 40 km east of Cue in the Tuckabianna mineral field in Western Australia’s Murchison Goldfields.

According to the company, as a result of keen interest from investors, the board resolved to utilise ASX Listing Rule 7.1 which allows the Company to issue shares up to 15% of capital without obtaining shareholder approval.

Mutiny is issuing 8,571,428 shares at $0.035 each and for every two shares issued, one free-attaching option (4,285,714 in total) will also be issued.

These options must be converted on or before 30 June 2011, with an exercise price of $0.10.

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