Georgian Mining raises $7m for copper/gold exploration

Aim-listed copper and gold developer Georgian Mining has raised $7-million in an oversubscribed placing to expand the resource at its Kvemo Bonisi (KB) project in Georgia. The project, located on the Tethyan belt, which is host to multiple high grade copper/gold deposits and producing mines in Turkey, Armenia, Serbia and Georgia, has an existing resource estimate of 2.22-million tonnes at 0.8% copper and 0.1 g/t gold.