GOLD: Golden Predator raises $17M for 3 Aces exploration

YUKON – Vancouver’s Golden Predator Mining has raised $17.25 million through a bought deal financing. The money will be used primarily to continue exploration at the 3 Aces gold project in the southeast part of the territory. [caption id="attachment_1003717531" align="alignright" width="300"] Drilling at the Ace of Hearts zone, 3 Aces project.[/caption] The company issued approximately 7.2 million common shares at a price of $1.60 per share and 3.1 million flow-through shares at a price of $1.85 each. The company paid a 6.9% commission and also issued about 250,000 share purchase warrants to the underwriters. The warrants are exercisable into common shares at a price of $1.60 per share over the next two years. Golden Predator took a 750-tonne bulk sample from the Ace of Spades vein a year ago for metallurgical testing. Gold recovery was between 80% and 92% using only gravity methods. A maiden resource estimate for the 3 Aces property has yet to be made. Please visit www.GoldenPredator.com for details about the 3 Aces project.