Additional Information
Market: ASX
Sector: General Mining - Gold
EPIC: CRE
Latest Price: A$0.06  (0,00%)
52-week High: A$0.11
52-week Low: A$0.03
Market Cap: A$69.30M
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Crescent Gold
www.crescentgold.com

Crescent Gold Limited (ASX: CRE, TSE: CRA) is a top 10 listed Australian gold producer and explorer based in Perth, Western Australia. With a primary focus on gold development and mining, the Company is actively advancing its flagship asset, the Laverton Gold Project located 250km north east of Kalgoorlie in Western Australia with current annual production of 100,000-120,000 ounces.

Crescent maintains a dominant land position of over 1,200km2 of highly prospective tenements in a world recognised and well endowed mineralised geological domain. Crescent has a plan to carry on building its presence in the Laverton district, continue exploration and development to grow its reserve/resource base, and further leverage its production base to grow reserves, production, cash flow and earnings.

Pdf

Crescent Gold is debt free, accelerates development

9th Mar 2010, 9:21 am

Dual-listed Crescent Gold (ASX: CRE; TSX: CRA) has today extinguished the company’s A$5 million convertible notes through the repayment of A$4.5 million and the issue of A$0.5 million in Company shares to existing noteholders under the terms and conditions of the convertible notes.

Crescent is an established and un‐hedged gold producer in Western Australia, with a strategic relationship with world’s largest gold mining company – Barrick Gold.

Crescent completed a placement in January of 26,615,000 million shares to raise A$5,323,000 million equity to sophisticated investors. These sophisticated investors include several global gold funds based in the US and Canada. The shares were placed at a price of A$0.20 per share and include one option for every two shares issued.

Production objective for Crescent is +100,000ozs/year over an initial 7 year mine life from predominantly shallow open pitable resources of 2.1Mozs.

The company will accelerate development work (primarily drilling) on the Laverton Extended Joint Venture properties. These properties were acquired from Barrick and Carbon Energy (ASX: CNX) in November 2009.  These had an estimated 1.1m ounces of gold resources. 

Crescent’s total resource is 2.1m ounces of gold.

 

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