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NGEx to raise C$20m

South America explorer NGEx Resources (TSX: NGQ) has announced plans to raise up to C$20 million (US$15 million) towards its projects in Argentina and Chile, one of which it plans to spin out.

NGEx to raise C$20m NGEx to raise C$20m NGEx to raise C$20m NGEx to raise C$20m NGEx to raise C$20m

The explorer has flagged a spin-out of Josemaria

It said it would use the funds to complete a feasibility study on its Josemaria project in Argentina, engineering and exploration studies on the company's other projects, repaying the existing balance