Red 5 seeks to raise US$75M

Western Australian gold miner Red 5 called a trading halt today as it launched a A$125 million (US$75 million) capital raising.

Drilling at King of the Hills in Western Australia

Petra Capital is acting as lead manager and bookrunner to a two-tranche placement priced at 18c per share, a 23.4% discount to yesterday's close.

The offer closes tomorrow afternoon.

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