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A1 Consolidated Gold receives additional funds from raising

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Emerging producer A1 Consolidated Gold (ASX:AYC) has topped up its rights issue swag after $500,000 was raised from a shortfall.

A further $1 million could be raised from the shortfall if discussions with an investment fund are concluded.

Its flagship project is the A1 Gold Mine in the Victorian high country, likely bringing it into production within 2 months of the receipt of funds which is handy timing with the soaring gold price.

There are not many companies with the ability to move into gold production in 2015. 

The higher A$1,600 gold price will improve the A1 gold project's operating margins even further given C3 costs of A$849 an ounce.

 

 


Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

Quick facts: A1 Consolidated Gold

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ASX:AYC
Market: ASX
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