...from the Age today, as part of bendigo gold article. IMO...

...from the Age today, as part of bendigo gold article. IMO CRE's future looks even more promising!!!

http://www.theage.com.au/news/business/bendigo-mining-shows-it-pays-to-keep-eye-on-down-and-outs/2007/04/01/1175366076844.html?page=2


THERE is a new mover and shaker in the junior end of the gold sector. It's Andrew Haythorpe's Perth-based Crescent Gold.

It has just poured its second gold bar at its Laverton gold project, picked up from Sons of Gwalia before it went under.

There is a minimum 400,000 ounce gold reserve there and planned annual production is a handy 90,000 ounces. But the real interest in the stock has been the remarkable deal under which Deutsche Bank is to pump $120 million in to Crescent at 38¢ a share for a 51.75 per cent (fully diluted) stake.

Crescent doesn't need the money, which was arranged by Capstone Capital, the private investment fund of Crescent's non-executive director, Roland Hill. There was no fee either, which is also remarkable in these fee-driven times.

It seems the Germans are growing increasingly nervous about the US dollar. Gold provides protection to the downside and it's time to crank up exposure.

Crescent is now part of that push. Its brief is to simply grow its business, either through the drill bit or through merger and acquisition activity.

Like the Laverton acquisition that has become Crescent's starter project, more mid-sized projects are popping out of the portfolios of industry big boys.

Once shareholders OK the Deutsche deal, Crescent will be able to move quickly. Too often small companies miss out on acquisitions because they are subject to raising finance. Crescent no longer has that problem.