Oceangold raises $C90m on Toronto exchange
Filed under: Mine - Didipio, Mineral - Copper, Mineral - Gold, Mineral - Silver, Operator - APMI, Region 02 - Nueva Vizcaya
OceanaGold Corp said it had completed its initial public offering (IPO) on the Toronto Stock Exchange, raising $C90 million ($NZ110.6 million) through the issue of 25,715,000 shares at $C3.50 each.
The proceeds of the offering will be used to develop the Didipio Gold-Copper Project in northern Luzon, Philippines.
OceanaGold recently commissioned the Globe Progress Mine at its Reefton Gold Project on the West Coast and said it was on track to commission the Frasers Underground Mine in North Otago in the first quarter of 2008.
Earthworks construction has started at the Didipio project, which is scheduled for commissioning in early 2009.
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