Crusader Resources (LON:CAS) has announced its financial results for the half year ended 30 June 2018.

The results offer several highlights. First, the successful completion of a dual listing on the AIM Market of the London Stock Exchange raising $6.5 million before costs. Next, ongoing technical and financial optimisation of the Borborema Gold Project delivers positive results. Additionally, key initiative for the Borborema Bankable Feasibility Study has progressed. Finally, Ausenco in Brazil has engaged to assist in finalisation of the Borborema Installation License application.

Crusader’s Managing Director, Marcus Engelbrecht, commented:

“With our successful London AIM dual listing and capital raise in April, the Company has significantly increased its exposure in the Northern hemisphere.”

“In addition, we have made considerable progress in moving our headline gold project in Brazil, Borborema, from exploration toward a decision to mine and development through continuing work on our BFS.”

At 12:48 BST today, Crusader Resources Limited shares had dropped by 9.09%.