fully financed and up she goes

CNT went up 7% last night in Canada on big volume...


Centamin Egypt on track for gold production this year

10th January 2008, 15:45 WST



Gold explorer Centamin Egypt today described its Toronto Stock Exchange listing in April last year as a good move, with more than $C280 million ($313.8 million) raised since then.

All resolutions were passed at the Mt Pleasant-based company’s general meeting today, including the issue of 5.6 million broker warrants as part payment to companies that underwrote Centamin’s $C134.4 million ($150.6 million) capital raising in November.

The companies will also be issued 112 million special warrants.

Centamin company secretary Heidi Brown said the placement was extremely successful, literally occurring overnight.

“There were a lot of supporters out there (in Canada),” Ms Brown said.

“The money that was raised means that we’re fully funded to take the Sukari project (in Egypt) into production - no hedging or bank interference.”

The triple listed company aims to bring the project into production towards the end of the year.

Sukari has 7.46 million ounce gold resource in the “measured and indicated” category under Australia’s mineral reporting code, plus 3.7 million ounces in the “inferred” category.

Centamin’s shares closed up half a cent at $1.53