Announcement out The funds will be used to contribute to the underground development at its Ballarat Gold Project, recommence gold production, contribute to regional exploration and for working capital. Further details are set out in the attached presentation. E.L. & C. Baillieu Stockbroking Ltd, RFC Corporate Finance Ltd and GMP Securities LLP acted as joint lead managers in connection with the placement. Mr Matthew Gill, Managing Director and CEO commented, "It is very pleasing to see the strong level of domestic and international investor support. The monies raised represent another important milestone for the company, which will now allow the Ballarat Gold Project to be progressed on two development fronts through to gold production this year. In addition, the placement will allow Castlemaine Goldfields to increase its regional drilling program to test the multiple targets that have been identified at its four other highly prospective goldfields tenements at Castlemaine, Tarnagulla, Berringa and Sebastian." PLACEMENT The placement is being undertaken in two tranches: Tranche 1 comprising 150 million shares, raising A$7.5 million (which is withi Good? baaaad?
I'm not super convinced on the need for this cash... but as hobo said above, maybe their cashburn is a little quicker? I'd prefer not further diluting the shares and using production to support exploration.... an ideal scenario... but one that companies like "RMS" are playing out right now...
will be interesting to see any movement at all untill the SPP expires How many kids out there holding a $15k ticket to ride...
CGT just felt the global smackdown - 4.6 cents a pop now.....at least the capital raising now looks really well timed and good value :/ ah well buckle up enjoy the ride folks.
http://www.brr.com.au/event/78455 good old JPM coming on board "now 4th largest shareholder". If anyone thinks JPM hasn't got their well known "positions" hedged is kiddin emselves... uniquely they can actually time the movements via these positions. house always wins
I have a few questions for those with a better understanding. 1. If the capital raising is not successful what will happen. 2. I have read that once we start production the share price will rise will rise approx 1.3 cents per share per year on average. But from others i have read it will trade at multiple of the current share price once we start producing. What are your projected goals and why? 3 If the capital raise is successful by how much will the share price be affected? Thanks
Great announcement but I think there is still too many people selling out above 5c because they can buy the shares back from the company at 5c. Share buyback doesn't close until the 21st April so unless something big happens I think it will struggle to get above 5c until after allocations in May. malachii
First gold expected in Sept. http://www.thecourier.com.au/news/l...first-gold-expected-in-september/2155842.aspx
just started looking at CGT. what do use guys think about it at current prices 0.041? what is management like?
I think it's a good investment with production kicking off in September and solid leadership - but then I thought that @ 4.5 cents when I bought in months ago (around time of posting this thread) and rode it to the highs and watched it drop to here..... so take my opinion with a grain of salt
Think it's a pretty good buy. Not much new info around at the moment but quite a few extra shares due to the last fund raising and people are starting to adjust their portfolios due to end of financial year approaching - this is why (in my opinion) we are seeing lower prices at the moment. I think we'll see a kick up as we approach the first pour unless there is some good news before then. malachii
What does one think the price of this share will trade at once production has started? I am thinking of buying more at this current price.
Been watching CGT for a while and noticed a new analyst report on their website (http://www.cgt.net.au/irm/content/investor_reports.html) Can someone with more experience in analyst's models explain why the "Key Assumptions" section has Spot Gold listed at USD$880/AUD$1177 (2010) and USD$1090/AUD$1274 (2011)? Is it just me or does the spot gold price look very low and the USD/AUD exchange rate look way out of whack?
Hmm, it's almost back to where I bought it :/ EDIT: Announcement out. "Spectacular Gold Intersection". Castlemaine Goldfields Limited (ASX:CGT) announces results from exploration diamond drilling on the Sulieman Line of mineralisation at its Ballarat Gold Project. These results are from the Basking Fault Zone (BFZ) in the Llanberris Compartment and build on the knowledge gained from exploration success in the adjacent Britannia compartment. Sulieman Line of Mineralisation Highlights:- * Spectacular gold intersection from CBU095 on the lower BFZ Fault (SUL2): *29.1 m @ 32.1 g/t Au from 230.7m, including 6.95m @ 6.3 g/t Au from 241.05m massive spur vein zone and 9.3m @ 91.5 g/t Au from 250.5m fault related massive quartz
