Crusader needs more funds before month-end

Minerals exploration and development company Crusader Resources said on Wednesday that it needed to raise more funds before the end of January to continue as a going concern and that the board was in advanced discussions to resolve the funding shortfall. The company, which on December 24 secured convertible notes to raise A$1.4-million, stated that it would follow a pro rata entitlement issue to eligible shareholders to raise additional funds in the next week and a half.