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Lion Selection Group Commits to Invest AU$600,000 in Koonenberry Gold

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Lion Selection Group (ASX:LSX) committed to invest AU$600,000 in Koonenberry Gold (ASX:KNB) as part of a AU$4 million placement priced at AU$0.02 per share, according to a Tuesday filing with the Australian bourse.

The company will hold roughly 10.1% of Koonenberry Gold on completion of the placement, the filing said.

The funding enables Koonenberry Gold to undertake drilling on a portfolio of gold targets in New South Wales, per the filing.

Koonenberry Gold shares fell 5% in midday trade Tuesday.

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