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Additional Information
Market: ASX
Sector: General Mining - Gold
EPIC: CGT
Latest Price: A$0.11  (5.00% Ascending)
52-week High: A$0.59
52-week Low: A$0.09
Market Cap: A$16.05M
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Castlemaine Goldfields
www.axd.com.au

Castlemaine Goldfields is an Australia-based exploration company whose principal activity is to explore gold in central Victoria. The Company holds exploration licenses encompassing three goldfields in Central Victoria, which include Castlemaine Project, Sebastian Project and Tarnagulla Project.

Full Castlemaine Goldfields profile here
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Castlemaine Goldfields to raise A$30.0 million from share placement

19th Mar 2010, 9:16 am

Castlemaine Goldfields (ASX: CGT) has now closed the capital raising announced on 15 March 2010, having received firm commitments from existing shareholders and new institutional and sophisticated investors.

An aggregate placement of 750,000,000 new ordinary shares at an issue price of A$0.04 per share was made, to raise A$30.0 million. This is an increase from the A$25.5 million announced on 15 March 2010.

It is CGT’s intention to announce its notice of annual general meeting next week containing the resolutions requiring shareholder approval, including the issue of this new equity to investors participating in the capital raising to complete the acquisition of the Ballarat Gold Project.

CGT’s Share Purchase Plan (SPP) to Australian and New Zealand registered shareholders also at A$0.04 per share up to A$15,000 per shareholder is expected to be posted to shareholders on 23 March and is expected to close on 16 April 2010 and is not subject to shareholder approval.

Managing Director Gary Scanlan commented, “this commitment is an outstanding recognition of the company transforming opportunity to be had in the acquisition of the Ballarat Gold Project for a cash outlay of only $4.5m."

"Actions are in progress to enable drilling to commence immediately after we receive shareholder approval to complete the transaction," he added.

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