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November 20, 2008
New Gold One needs to raise R120m - Froneman
The new Gold One would need to raise an additional R120-million by mid-2009 to fund projects, Gold One president and CEO Neal Froneman said in Johannesburg on Thursday.
Froneman said that the company had R330-million worth of cash on hand, from last year's R600-million convertible-bond issue, but would require R80-million to R90-million of the additional R120-million for its flagship Modder East project on South Africa's East Rand.
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Posted by StaffWriter at November 20, 2008 1:07 PM