Resources giant Focus Minerals has announced its intention to raise AUD$28 million as part of a strategy to accelerate growth.
Specifically, the Perth-based firm has taken the decision to seek new investment as it looks to complete "refurbishment and modernisation" on its Three Mile Hill plant and Coolgardie Gold Project.
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Chairman of the company, Don Taig, said: "These funds will provide Focus with the opportunity to substantially ramp-up production at Coolgardie, elevating us to a new level in terms of our position among gold producers in Australia."
He added that the firm's priority was to ensure that its Three Mile Hill plant is completed "on time and within budget".
Elsewhere in Australia, the resources group Po Valley Energy has successfully raised AUD$10 million in capital as part of a bid to complete several Italian gas projects.
