3D Resources Ltd (ASX:DDD) has raised $1 million through a placement of shares to institutional and sophisticated investors at $0.0065 each.

The company’s shares were last trading circa 14% higher intra-day, at $0.008.

The placement, which also includes the issue of options, was supported by a range of Australian institutional and sophisticated investors.

3D Resources is making rapid progress in Haiti, entering into agreements to acquire controlling interest in two Haitian companies earlier this month.

The companies are Delta Societe Miniere SA which owns the Morne Bossa gold project, and Ayiti Gold Company SA which owns the Grand Bois gold project.

3D Resources has revealed outstanding gold recoveries of up to 99.4% from Morne Bossa oxide ore metallurgical tests.

The company also plans to commence a diamond drilling campaign of up to 2500 meters.

The new funds allow 3D Resources to aggressively pursue its exploration works program and progress its well-advanced gold projects in Haiti.