MONEY RAISED: Gleichen raises $50 million for remainder of Morelos

MEXICO - Gleichen Resources of Toronto has completed a $50-million equity financing with which to complete the acquisition of the Morelos gold project in Guerrero. Last year Gleichen acquired 78.8% of the Morelos project for US$150 million from Teck Resources and now it has acquired the remainder from a Goldcorp subsidiary.

The 43-101 technical report on the Morelos project is posted at www.GleichenResourcesLtd.com. The report estimates the total measured and indicated resources in three deposits to be 28.8 million tonnes grading 3.2 g/t Au or nearly 3.0 million oz of gold.