In today’s environment, an investment in gold may provide a hedge to market volatility. Shares of this junior miner are up on a recent private placement.
Unigold Inc. (TSX-Venture: UGD) is a Canadian-based junior natural resource company focused on exploring and developing its gold project in the Dominican Republic- a country highly prospective for gold and polymetallic mineralization.
Today, Phoenix Gold Fund Limited of Kuala Lumpur, Malaysia, announced acquisition of 11,500,000 common shares at an average price of $0.13 and 5,750,000 common share purchase warrants of the Unigold. Phoenix now owns approximately 8.02% of all issued and outstanding shares of the Issuer on an undiluted basis.
Shares of Unigold were trading up over 4% in early afternoon trade.
