Red Mountain nails down financier for Batangas

ASX-listed Red Mountain Mining has secured $5.5-million from a private investor to fund its definitive feasibility study (DFS), final permitting and development of its Batangas gold project, in the Philippines. The company reported on Tuesday that the two-stage funding would see the private investor provide $1-million to fund the Batangas DFS and permitting. The funding would be convertible into a 15% take in Red Mountain subsidiary RMMS, which holds the Batangas project.