re: Ann: OGC announces CDN115.5M Bought Deal ... Come on guys, this looks like they are speeding up the Phillipines mining process.
Great news,
Newminer.
The Company intends to use the net proceeds of the Offering to fund:
? A portion of the capital expenditure requirements (estimated at US$140 million) for the
development of the Didipio Gold/Copper Project in the Philippines;
? Future capital and exploration expenditure associated with extending mine life at the Company?s
New Zealand operations; and
? General working capital requirements.
In addition to the funds raised from the Offering, the Company is considering its options to finance the
balance of capital expenditure associated with development of the Didipio Project. This may include one or
2
more of debt, internal cash flow or funding from the introduction of a joint venture partner. In this respect
discussions are currently underway with a number of parties.
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