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WildHorse raises $20 mln for uranium projects

Australian uranium explorer WildHorse Energy Ltd has raised $20 million through a placement of convertible notes, with global investment bank Goldman Sachs subscribing most of the funds.

WildHorse Energy Ltd will use the proceeds to accelerate developmet of its projects in Hungary and the United States. WildHorse plans to use the additional funds for the ongoing development of its core assets in the United States and Europe into operational mines. In particular, the company is completing work on its initial geological evaluations at Bison Basin, Wyoming, and its Pécs Project in Hungary, with the aim of establishing JORC compliant resources in coming months. WildHorse will then immediately begin Scoping Studies at both projects, as well as a drilling program at Bison Basin to extend its resources. and the

Goldman Sachs, together with Goldman Sachs JBWere have subscribed collectively for $15 million of the total $20 million placement. WildHorse Energy Managing Director, Richard Pearce said "We are delighted Goldman Sachs, has become an investor in our company. They have shown an interest in our performance, the uranium sector's potential and WildHorse's strategy to become an early and significant uranium producer in the world's largest-nuclear energy market." (wabusinessnews.com.au)