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Additional Information
Market: ASX, TSX
Sector: General Mining - Gold
EPIC: CGX
Latest Price: A$1.74  (7.76% Ascending)
52-week High: A$2.95
52-week Low: A$1.58
Market Cap: A$585.95M
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CGA Mining
www.cgamining.com

CGA Mining (ASX:CGX, TSX:CGA) and its subsidiaries, is a producing gold mining company, with its principal asset being the +200,000 ounce per annum Masbate Gold Mine in the Philippines. The Masbate Gold Project has total resources of approximately 7.7m ounces and and reserves of 3m ounces.

The Masbate Gold Project is the largest operating gold project in the Philippines. Construction on the process plant was successfully completed in February 2009, less than 2 years after acquisition of the project, with the construction and installation of the power plant completed in April 2009. First gold was poured on 12 May 2009, with over 1 tonne of gold poured by September 09 and total production in excess of 150,000 ounces in the first year of operation. The project is forecast to produce over 200,000 ounces per annum and an expansion to 6.5mtpa is planned in 2010/2011 to further increase the production profile of the project.

The Company is focussed on enhancing the value of the Masbate Gold Project by both production growth and an aggressive exploration program on the highly prospective tenements and identifying new growth opportunities, through judicious and profitable acquisition programmes. 

Full CGA Mining profile here
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CGA Mining`s Ratel Gold raises C$14 million

9th Aug 2010, 3:52 pm

Dual-listed CGA Mining (TSX: CGA, ASX:CGX) and Ratel Gold Limited (TSX: RTL) has reported the previously announced initial public offering of common shares in Ratel has closed successfully. Ratel today issued 70,000,000 common shares at a price of C$0.20 per common share, for aggregate gross proceeds of C$14 million.

Haywood Securities Inc. acted as agent for the Offering pursuant to an agency agreement. The common shares will begin trading today on the Toronto Stock Exchange under the symbol “RTL".

The funds raised will be used to fund exploration and feasibility activities at the Segilola Gold Project and the Mkushi Copper Project.

Michael Carrick, chief executive officer of CGA and Director of Ratel, said ”we are pleased with the overwhelming support shown by CGA shareholders for the spin off of the African assets and believe Ratel Gold Limited, a new dedicated African focussed resources company will be well received by the market.”

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