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Logo of Phnom Penh Post newspaper Phnom Penh Post - Southern Gold issue to fund local gold hunt

Southern Gold issue to fund local gold hunt

SOUTHERN Gold Ltd announced plans Thursday to raise US$4.6 million through an issue of up to 40 million shares to finance ongoing gold exploration projects in Cambodia and Australia. The Sydney-listed firm plans to roll out the shares in two blocks at $0.115 each in the coming months. A portion of the capital will fund work on four of the company’s seven Cambodian properties as part of its 2009-10 exploration programme announced Monday. Japan Oil, Gas and Metals National Corporation (JOGMEC) finances the other three sites.

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