Miner Launches Peru Funding

Toronto-based Sulliden Gold has raised CAD75m ($74m) to fund its Shahuindo mine in Peru, through a bought equity deal. The miner has sold 43.4m common shares at CAD1.73 each to National Bank Financial and Cormark, which may syndicate the shares. The two have an option to buy an additional 6.5m shares for up to 30 days. Proceeds will be used to expand the exploration program at the Shahuindo gold and silver project in Peru, to acquire additional mining concessions adjacent to Shahuindo, and to fund other activities at the property and for general corporate purposes.