Ovoca raises cash with share placing and land sale

Irish-based exploration company Ovoca Resources said it raised €379,652 in a placing of 3.8 million shares and raised a further €197,855 selling land it owned in Keel.

Ovoca, whose stock is listed in Dublin and London, said it will use the majority of the proceeds to fund gold exploration projects in Sweden.

"Ovoca is highly optimistic of a successful outcome to our exploration programme in Sweden," said CEO Richard O'Shea.

He added that Ovoca was also in "advanced discussions" on a number of other joint-venture projects at present.