Yuba Natural Resources said that its Yuba American Gold Ltd. subsidiary has completed a private placement of 1.5 million shares in Europe and Canada. Yuba Chairman Richard T. Silberman valued the placement at $4.5 million.
The financing for the Canadian subsidiary was "the first stage of a program . . . to raise $12.5 million of equity to begin additional gold dredging on the company's California property," according to Silberman.