Japan Gold (“JG”) has released its results for Q2, ending the period with cash of C$4.7m following a successful placing to raise gross proceeds of C$6.1m with the issue of 30.65m shares. Following the period end, Barrick provided a further C$1.2m of funding, which takes its total investment in the Alliance with the company to C$15.1m. We maintain a target of C$1.22/share and expect updates on the ongoing exploration programmes over the coming months.