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 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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