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It is claimed the company was only seeking about $10 million, but upped the number to $15 million on account of the strong interest out of North America.
The funding comes after Xanadu managing director Andrew Stewart spent last week at a gold conference at Beaver Creek.
The raising was priced at 20c per share, reflecting the strong interest.
Xanadu has been having ongoing success with large scale epithermal and porphyry prospects in Mongolia.
Shares were up 5% to 21c in midday trade, capitalising the company at $107 million.
