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BRIEF-Chalice Gold Mines subscribes to share placement in Ausgold Limited

Published 06/06/2017, 10:22 am
Updated 06/06/2017, 10:30 am
© Reuters.  BRIEF-Chalice Gold Mines subscribes to share placement in Ausgold Limited
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June 6 (Reuters) - Chalice Gold Mines CHN.AX -

* Chalice subscribes to $1m share placement in ausgold limited

* Chalice gold mines -agreed to subscribe to share placement of 40 million shares in ausgold at an issue price of 2.5 cents per share for a total of $1.0 million

* Has agreed to sell dumbleyung project to ausgold for 15 million shares and 10 million unlisted share options that are exercisable at 3.5 cents per share

* Following placement & issue of dumbleyung consideration shares and options, chalice will hold a 12% interest in ausgold

* Funds from placement will predominantly be used to advance ausgold's flagship katanning gold project in western australia Source text for Eikon: ID:nASXV6nM1 Further company coverage: AUC.AX

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