Gold Road Resources (ASX:GOR) will look to raise between $30 million to $40 million through a placement of shares in the next day to fund managers and sophisticated investors.
The company's shares are current in a trading halt pending the raising.
Its Gruyere Deposit at Yamarna, Western Australia has a large mineral resource of 5.51 million ounces of gold grading 1.24g/t Au.
A total of 62% of ounces are within the higher confidence Measured and Indicated JORC 2012 Resource status.
Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.