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Dome Gold Mines boosts funds for iron ore and industrial sand focus

Capital raising of $600,000 to assist in progressing towards feasibility studies.
Cash
Cash raised from placement to assist in progressing Fijian operations

Dome Gold Mines Ltd (ASX:DME) has attracted funding from professional and sophisticated investors which will be applied to its Sigatoka magnetite iron ore mine in Fiji.

The raising comprised 3 million shares at $0.20 to raise $600,000, along with 3.3 million unlisted options.

Funds to assist in exploration activity

The company plans to continue with sonic drilling at the project, and when completed, the new work will be incorporated into a revised resource, expected to be available by early next year.

The new resource will provide the basis for a final feasibility study for a proposed sand mining operation at Sigatoka, producing magnetite iron ore, industrial sand, gravel and other products.

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Dome Gold Mines Ltd Timeline

Newswire
November 04 2013

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