Some of the proceeds from a recent $42-million private placement has been used by Venezuelan Goldfields (VSE) to complete acquisition of the Oro Uno property in Venezuela.
The company has $20 million cash which will be used to “explore aggressively” all its properties in the country’s Kilometre 88 district. The junior ranks among the largest landholders in the district, holding projects directly or through joint ventures with Carson Gold (VSE) and Queenstake Resources (TSE).
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