Zenith Minerals has filled its coffers to the tune of $7.65 million thanks to strategic gold investor and new largest shareholder Ida Metal Investments.

Putting its money where its mouth is, the Perth-based gold investor decided it had seen more than enough from Zenith’s burgeoning Aussie gold projects to jump in and take a cornerstone 10 per cent stake, paying up for the shares at a 15.9 per cent premium to market.

Ida will take the full tranche of 60 million shares, which will be issued at 12.75 cents per share. The deal still needs the shareholder nod at a mid-November meeting, however, much-needed capital at a premium will likely be greeted with cheers.

The funds will boost Zenith’s cash pile and its recent Australian-focused “going for gold” strategy, aimed at driving exploration a

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