Phoenix Gold Limited (ASX: PXG) (“Phoenix” or the “Company”) is...

Phoenix Gold Limited (ASX: PXG) (“Phoenix” or the “Company”) is pleased to announce it has successfully completed a Placement of 50 million shares at A$0.10 per share to raise A$5 million (“Placement”). The Placement, which was oversubscribed, received strong support from existing shareholders and enabled a number of new institutional and sophisticated investors to be added to Phoenix’s register......

Great news ...and the additional 1million offered to S/H is fully underwritten !!

So we get the much needed 6million in Capital needed to see PXG progress the projects and continue the very successive exploration projects ...Many Gold explorers would be green in envy and how easy PXG can raise the needed funds while they are hang out to dry MSR CVR two that come to mind at late .... got to be a great plus for investors to have PXG in the heart of the W.A Gold fields

Strong Buy here