G-Resources raises funds to buy Martabe gold project
Saturday, July 4 2009 - 01:49 AM WIB
Hong Kong Stock Exchange-listed firm G-Resources Group Ltd. (formerly Smart Rich Energy Finance (Holdings) said Friday it raised US$585.7 million from selling new shares to finance the acquisition of Martabe gold and silver mine in North Sumatra.
G-Resources said it sold 12.97 billion new shares at HK$0.35 each. It didn't name the buyers.
The company said it will use the proceeds from the share sale to acquire and develop the Martabe project. (alex)