CGA Offers Stock to Raise C$17m

28 May 2009 (Last Updated May 28th, 2009 18:30)

Australian gold company CGA Mining plans to raise C$17m through a private placement offering of its shares. The proceeds will be used to support production during initial months at the Masbate Gold Mine in the Philippines, which is expecting its first shipment delivery later this week.

Australian gold company CGA Mining plans to raise C$17m through a private placement offering of its shares.

The proceeds will be used to support production during initial months at the Masbate Gold Mine in the Philippines, which is expecting its first shipment delivery later this week.

The shares will be issued at C$1.35 a share (A$1.54).
Haywood Securities will act as the agent for the placement offering, which is scheduled to close on or around 12 June 2009.

By staff writer.