Thursday, 30th September 2004 (3191 views)

Centurion Gold Holdings has announced that it has raised $3 million through a special fund to help expand current operations and complete acquisitions.

The money from Laurus Funds will help the company with its business strategy of "growth by acquisitions"

CEO Arthur Johnson commented: "This funding in an important step in the execution of our business strategy. Through acquisitions and the development of acquired properties, Centurion Gold Holdings is now producing 30 kg of gold a month and by the end of next month, we expect to increase that number substantially."

Mr Johnson explained that within the last six months the firm has made a thirty-fold increase in production at its Primrose mine and initiated production at the Sellies site.

Centurion is based in South Africa and was set up three years ago to identify and purchase promising properties.

Recently it has acquired the Primrose Gold Mine, the Omaru Gold Mine, the Sallies Mine and a chrome bearing operation.

 

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