Thursday, 1st July 2004 (2751 views)

Canadian gold firm Centerra Gold added some excitement to the gold sector yesterday as it raised $252.6 million in the largest public offering of a miner on the Toronto stock market in seven years.

The company also revealed that it has 850,000 ounces of gold set for production this year, which could make it one of the top six North American gold companies in 2004.

Pat James, Centerra's chairman commented: "We think we're really poised to grow quickly."

In its initial and secondary public offerings yesterday the gold firm sold 16.3 million shares at $15.50 each even when gold prices were around $400 an ounce.

Centerra was previously Cameco Gold Inc, a subsidiary of Saskatchewan-based Cameco and it has been in Central Asia's Kyrgyz Republic for 12 years.

 

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