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Tuesday, 16th December 2008 (1317 views)

Crew Gold has announced that all of its recently-created shares have now been allocated.

A subscription period ended last week with the rights offering fully subscribed and the company has revealed that all 340 million new shares have now been allocated.

Those with subscription rights received allocations in accordance with these rights, according to Crew Gold, while those without did not receive any new shares.

Payment is to be taken from subscribers' bank accounts by direct debit and should an account not have sufficient funds and payment is not received by December 19th, the shares are to be offered elsewhere.

Crew Gold currently has mining operations in Guinea, the Philippines and Greenland, in addition to exploration projects in the latter two countries, Norway and Ghana.

The Greenland mine has a production rate target of between 80,000 and 90,000 ounces per year, while the Guinea site aims for 360,000 to 420,000 ounces.

 

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