The company operates two gold mines in Guatemala and one in Nicaragua. It has secured the $4.5 million financing through a non brokered private placement.

Simon Ridgway, the President of Radius said: "We hold a very large land position in a very prospective belt of rocks. We need people on the ground and we need drills turning. This financing will allow us to do both, and do both aggressively".

Source: PR Newswire

More on this topic

Colombian Mining Company Buys Gold Mine in Nicaragua

March 2013

Mineros SA has bought 90% of the shares of the Bonanza mine from the company Hemco, for an amount that has not been disclosed.

From a press release from Hemco in Nicaragua:

Mineros, S.A, the Colombian private business group with over 38 years experience in the mining sector has decided to invest in Nicaragua acquiring a 90% stake in Hemco Nicaragua S.A in Bonanza, in the North Atlantic Autonomous Region (RAAN).

B2Gold purchases 100% of two Nicaraguan operations

April 2012

The Canadian mining company buys 40% of shares from joint venture partner Radius Inc. for $20,08 million, and takes total control of Trebol and El Pavon gold mining sites in Nicaragua.

B2Gold Corp. and Radius Gold Inc. announced on April 9 the signing of a binding letter agreement pursuant to which B2Gold has agreed, among other things, to acquire a 100% interest in the Trebol and El Pavon gold properties in Nicaragua in consideration of C$20 million, payable in common shares of B2Gold at a price per share equal to the volume weighted average price of B2Gold’s common shares on the Toronto Stock Exchange (“TSX”) for the ten trading days immediately preceding the date of the letter agreement.

456 Thousand Gold Tons in Guatemala?

June 2010

Canadian mining corporation Radius calculated how much gold it could extract from its “Tambor” project, in San Pedro Ayampuc.

According to Lorena Álvarez, the figure was included in an environmental impact study presented by “Exploraciones Mineras de Guatemala” (Exmingua), a subsidiary of Radius Exploration Ltd.

Radius Gold Starts Drilling in Nicaragua

May 2008

Drilling has begun on the Company's Trebol property (42,193 hectares) located in northeastern Nicaragua, where epithermal gold mineralization is associated with a series of intensively silicified ridges.

The preliminary drill program is being designed to test the sub-surface continuity of the gold grades observed in selected trenches and to give geological and structural information on the geometry and controls on mineralization which will be used to further explore the property.