Xanadu Mines plans to raise A$13.6 million through a rights issue and share placement programme to advance its newly acquired Mongolian copper/gold porphyry portfolio. Xanadu will use half of the generated funds to pay down up to $10 million of the 18-month deferred consideration for the $14-million deal to acquire a 90% interest in Turquoise Hill subsidiary Oyut Ulaan, which holds the Kharmagtai porphyry copper/gold project, in the South Gobi. The balance of the raised funds would be used to further exploration and evaluation activities and complete a Joint Ore Reserves Committee-compliant resource statement for Kharmagtai.