RK Mine Finance to invest $25 mln in Continental Gold

Canadian gold producer Continental Gold Inc (TSX: CNL) has agreed to receive a US$25 million investment from RK Mine Finance, an affiliate of Australian mining finance firm Red Kite Group. The private placement deal, which will provide Red Kite with 4.6 percent of the company's issued and outstanding common shares, was accompanied by a US$109 million strategic investment by Newmont Mining Corp, a U.S. gold producer. Toronto-based Continental said the proceeds will support the construction of its Buriticá gold project in Columbia.

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