St Barbara raises $19.2m through Mercator sale
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Friday, 10 November, 2006 - 17:03
West Perth-based gold company St Barbara Ltd has raised $19.2 million after selling its shareholding in AIM-listed Mercator Gold plc, with the knowledge of the UK-based miner.
The sale of the 11 million shares at 70p each will bring St Barbara a profit of $6.2 million.
St Barbara said the sale, undertaken with the knowledge of Mercator Gold plc, strengthens the Company's cash reserves; enabling planned project development and exploration expenditure to be financed from available funds.
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