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Additional Information
Market:ASX TSX
Sector:Gold Mining
EPIC:CGX
Latest Price: 2.38  (-2.06% Descending)
52-week High:3.35
52-week Low:1.79
Market Cap:793.67M
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CGA Mining Full CGA Mining profile here

CGA Mining (ASX:CGX, TSX:CGA) is a producing gold mining company, with its principal asset being the +200,000 ounce per annum Masbate Gold Mine in the Philippines.

 

Masbate is the largest operating gold project in the Philippines, with construction on the process plant successfully completed in February 2009, less than 2 years after acquisition of the project.

CGA Mining closes C$86 million share offering

Monday, February 08, 2010
CGA Mining closes C$86 million share offering

Australian-listed explorer and developer CGA Mining (ASX: CGX, TSX: CGA) has closed the C$86 million share offering on a bought deal basis, of 39,100,000 ordinary shares in the capital of the Company.

The net proceeds from the sale of the Shares will be used to repay indebtedness, including the 12% Senior Promissory Notes, to increase exploration activity at the Masbate Gold Project and for general corporate purposes.

The Shares were sold at C$2.20 per Share, with CGA entering into the agreement with a syndicate of underwriters led by BMO Capital Markets and including Haywood Securities under which the underwriters agreed to buy the Shares on a private placement, bought deal basis.

CGA is listed on the Toronto Stock Exchange and Australian Securities Exchange.

The Masbate Gold Project in the Philippines was successfully developed with first gold poured on 12 May 2009. The project which is currently ramping up to full production has a total indicated resource base of 4.55M ounces, total inferred resource base of 3.22M ounces and a probable reserve of 3.03M ounces of gold.

It is currently forecast to produce over 200,000 ounces per annum.

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