Gold Road raises cash for Gruyere study

ASX-listed miner Gold Road Resources has raised A$39.3-million through a share placement to a range of new and existing institutions and sophisticated investors. Some 89.3-million shares were placed a 44c each to raise the capital, which Gold Road on Thursday said would be used to complete the definitive feasibility study on the 5.51-million-ounce Gruyere project, in Western Australia, and to continue testing for new regional targets throughout the Yamarna belt.