Wednesday, 19 December 2007

Money In The Bank For Anglo Swiss

Anglo Swiss Resources (TSX V: ASW /OTCBB: ASWRF /BERLIN: AMO)
Santa arrived a little early for Anglo Swiss with today's news that it raised $4.3 million through a combination of flow through and common share units. Click here to read the release.

Up until this year, raising capital had been an ongoing struggle for ASW but funds that came in to the coffers in early 2007 allowed the company to move ahead with technical programs and then drilling on its Kenville copper/gold project just outside Nelson, British Columbia as well as fall drilling at the Fry Inlet diamond property in the NorthWest Territories.

This just completed placement assures the company has sufficient capital to undertake the phase two work and drilling program at Kenville, which is slated to start in the early part of 2008. Final determination of additional technical work and drill sites will in part be contingent on assay results from phase one drilling. The lab is expected to begin delivering those results towards the end of January.