Capital Raising to Accelerate Production Growth
6 April 2011
CAPITAL RAISING TO INCREASE GOLD PRODUCTION
TO 130,000oz & ACCELERATE EXPLORATION
- $32.3 MILLION PLACEMENT AND $7 MILLION SPP -
Strongly supported institutional share Placement to raise up to $32.3 million at $0.076 per share with SPP at the same price to raise up to $7 million
Funds raised to underpin strategic plan to lift gold production to 130,000oz a year in calendar 2012 from expanded mine development programme
Capital raising will enable Focus to accelerate exploration at the highly prospective Treasure Island Gold Project
Marks key milestone towards achieving Focus‟ objective of becoming one of the largest gold producers in the Goldfields.
Australian gold producer Focus Minerals (ASX:FML) is pleased to announce a circa $40 million equity raising to accelerate key production and exploration programmes and underpin its objective of lifting annual gold production from its WA operations to 130,000oz in 2012.
how far away is ti announcement, page-19
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