EXPLORATION companies Navigator Resources Ltd and CityView Corporation Ltd have successfully completed share placements to raise $5 million and $10 million, respectively. Navigator has agreed to place a total of six million shares at 84 cents per share to institutional investors and sophisticated investors. The funds will be used to increase the rate of drilling and resource expansion at its Leonora project, for feasibility studies aimed at bringing the Leonora gold resources into production as rapidly as possible, and for working capital. West Perth-based Navigator said it was pleased to welcome to the register the Sydney-based Taurus Resources Fund. Perth-based CityView Corporation Ltd has successfully completed the placement of 41.71 million ordinary shares at 24 cents per share to raise $10 million. The company will primarily utilise the funds to finalise its oil projects in Angola and Cameroon and increase its holding in Fortitude Minerals Ltd.
