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Thursday, 5th March 2009 (1541 views)

Great Basin Gold has announced that it has priced a planned CN$130 million (£71.9 million) equity offering.

The Canadian company is placing 100 million units at a price of CN$1.30 per unit, with each comprising one common share and one-half one common share purchase warrant.

Each full warrant entitles the bearer to buy a common share of Great Basin Gold for CN$1.60 before October 15th 2010.

The underwriters, a syndicate led by BMO Capital Markets and RBC Capital Markets, have been granted an over-allotment option by the company, exercisable for a period of 30 days following the closure of the offering, which would result in additional gross proceeds of CN$19.5 million.

Based in Vancouver, British Columbia, Great Basin Gold is an international mining company that owns the Hollister and Burnstone advanced state mine development projects.

The firm announced last month that approval had been granted to its environmental management programme for the Burnstone gold project in South Africa by the Department of Minerals and Energy.

 

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