• Most Popular
  • Most Shared

UPDATE 1-Centamin Egypt to raise C$29.6 mln in share placing

Fri Jul 3, 2009 2:43am EDT

Stocks

   

* Raises gross proceeds of C$29.6 mln from private placement

* Offer at C$1.56/share vs Thursday share close of C$1.66

(Adds details)

LONDON, July 3 (Reuters) - Gold producer Centamin Egypt Ltd (CEY.L) (CNT.AX) said on Friday it will raise gross proceeds of C$29.6 million ($26 million) from a private placement of 19 million shares.

The offer was priced at C$1.56 per share, a discount to the closing share price (CEE.TO) of C$1.66 on Thursday. The shares will be placed with three large North American resource focused funds.

Centamin plans to use the net proceeds for continued exploration activities and general corporate purposes.

The company, which announced the first gold pour from its Sukari project in Egypt on Monday, reiterated that it remains committed to ramping up to full production towards the end of 2009.

(Reporting by Julie Crust; Editing by Lorraine Turner)

($1=1.149 Canadian Dollar)



More from Reuters

Photo

Volvo Cars sale to Geely seen closing in Q2 '10

STOCKHOLM (Reuters) - U.S. carmaker Ford said it expected to close a deal to sell Volvo Cars to China's Zhejiang Geely in the second quarter of 2010, in the latest in a string of deals between Asian and Western carmakers.

» More Top News
Malaysians participate in computer attack and defence hacking competition during The 3rd Annual Hack-In-The-Box Security Conference 2004 in Kuala Lumpur on October 6, 2004. REUTERS/Bazuki Muhammad
Commentary:

Year of the breach

Data security breaches are nasty business and should be avoided at all costs, writes Kevin Prince, a chief technology officer at Perimeter e-Security. Here's a look at the biggest breaches and blunders of 2009.  Commentary 

Technology
A condominium under construction is seen in Miami, Florida October 15, 2007. REUTERS/Carlos Barria

Booming in the bust

For most Americans, the housing market collapsed about four years ago. For three real estate heavyweights, it's just getting started.  Full Article 

Housing Market