🕐21.10.09 - 03:16 Uhr
Scotgold raised $3.2M for development of Grampian Gold Project
ASX Announcement: Scotgold Resources (ASX: SGZ)
21 October 2009
SCOTGOLD RAISES $3.2 MILLION
Capital used to complete feasibility study; seek to extend gold resources
at Cononish; explore at Beinn Udlaidh
Scotgold Resources Limited (ASX:SGZ) has agreed with Patersons Securities
Limited (Patersons) to raise $3,200,000 by the placement of 29,090,910
ordinary fullypaid shares in Scotgold, at 11 cents per share.
The proceeds of the placements will be used as follows:
- to assist in completion of a bankable feasibility study for the
development of Scotgolds proposed Cononish gold and silver mine at
Cononish in Scotland;
- to seek to extend the Companys JORC compliant mineral resources by
drilling recently identified targets at Cononish;
- to further explore the recent gold and silver discovery at Beinn
Udlaidh, 5km NNW of Cononish; and
- for general working capital for exploration and development within the
greater Grampian Gold Project.
The placement consists of two tranches.
The first is the placement of
10,900,000 shares, which does not require shareholder approval (not
exceeding 15% of the Companys capital) and the second will, subject to
shareholder approval at the companys Annual General Meeting on 24 November
2009, be for an additional 18,190,910 shares.
Patersons will act as sole and exclusive Lead Manager to the placement for
a fee of $25,000 plus a Management fee of 1% of the gross amount raised and
a Placement fee of 4% of te gross amounts raised, the shares will be placed
with sophisticated and professional investors.
The directors have resolved, subject to shareholder approval, to issue a
total of 900,000 fully paid ordinary shares to Mr John Bentley, a director
of the Company.
This placement of shares will form part of the second
tranche of the placement by Patersons referred to above and will be at the
same price as the placement to sophisticated and professional investors.
To view the full ASX announcement please click here.
http://esp.gewru.com/download/files/12414/965125/Cap%20raising%2021%20oct%2009.pdf
For further information please contact:
Shane Sadlier
Non-Executive Director
Scotgold Resources Limited
Lindsay Street, Perth WA
Tel: +61 (8) 9428 2950
Mobile: +61 (0) 411 704 498
E:
Melanie Gray
Professional Public Relations
Tel: 08 9388 0944 / 0423 602 353
E:
---------------------------------------------------------------------------
This email was sent by Melanie Gray (PPR), PPR (WA) Pty Ltd, Level 1, 588
Hay Street, Subiaco WA 6008 Western Australia to
Unsubscribe:
http://esp.gewru.com/download/forms/u/a1b41e7/1473231052.html
---------------------------------------------------------------------------
Products & Services | Jobs
|