Rua Gold (TSX-V:RUA) has successfully closed its brokered best effort public offering and private placement, raising C$13.8 million, which equates to approximately $15.45 million in Australian dollars. The funds are earmarked for exploration activities across the company’s gold projects located in New Zealand. Rua Gold is an emerging gold explorer in New Zealand with two highly prospective land packages. The company is focused on advancing its Reefton Project on the South Island and the Glamorgan Project on the North Island.
The capital raise involved the issuance of 19.71 million shares at a price of $0.70 per share. Cormak Securities, Red Cloud Securities, and Beacon Securities acted as co-lead agents for the offering. According to CEO Robert Eckford, this funding milestone marks the first time Rua Gold is fully equipped to execute its exploration plans over the next 12 to 18 months.
Eckford stated that the company has accelerated both the Reefton and Glamorgan Projects since listing last year. With the addition of a cornerstone 9.9% investor, Rua Gold has strengthened its support base, enabling a two-pronged strategy. This includes the continuation of an aggressive drill campaign at the Reefton Project and the planned commencement of drilling at the Glamorgan Project in the fourth quarter of 2025.
The Reefton Goldfields has historically produced 2 million ounces of gold with grades ranging from 9 to 50 grams per tonne. The Glamorgan property is situated in the Hauraki Goldfield, which has been mined since the 1860s, yielding over 15 million ounces of gold and 60 million ounces of silver.
