Chalice invests in Ausgold

Dual-listed gold miner Chalice Gold Mines has thrown its support behind Australian junior Ausgold, agreeing to subscribe for A$1-million in shares. Chalice on Tuesday reported that it would acquire 40-million shares in the ASX-listed Ausgold, at a price of 2.5c a share, with the funds raised through the placement expected to finance ongoing exploration work at the Kattaning gold project, in Western Australia.