The West

Crescent raises $8.8m
Crescent raises $8.8m

Gold producer Crescent Gold says it has raised $8.84 million through a convertible note facility and a placement to help fund development of the company's projects near Laverton.

The company will raise $8 million in the convertible note issue and $844,000 in the placement.

Crescent's managing director Mark Tory said the company had rebounded from a difficult start to the year operationally, to be on track to exceed its previously forecast quarterly equivalent gold production for the June quarter.

"The company is progressing well with negotiating a new long-term financing facility to fund further capital development requirements of new open pits in the regions," he said.

Crescent shares were up 0.2 cents, or 3.77 per cent, to 5.5 cents at 11.10am.

The West Australian

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