Hochschild Mining Stake In Lake Shore Gold To Be Diluted To 35%
August 19 2010 - 2:56AM
Dow Jones News
Hochschild Mining PLC (HOC.LN), a precious metals company, said
Thursday its current 37% holding in Lake Shore Gold Corp (LSGGF)
will be diluted to 35%.
MAIN FACTS:
-Lake Shore Gold made a financing of C$76 million to fund
general corporate activities and working capital.; Hochschild will
not be participating in the proposed financing.
-Lake Shore Gold continues to anticipate ending 2010 at a
monthly production rate of 10,000 ounces from the Bell Creek Mill
with commercial production targeted for the fourth quarter.
-Longer term, the company is working towards building production
with the potential to produce over 300,000 ounces of gold annually
over the coming years.
-Shares of Hochschild Mining on Wednesday closed at 326.6 pence,
valuing the company at GBP1.10 billion.
-By Tapan Panchal, Dow Jones Newswires. Tel +44(0)207-842 9448,
tapan.panchal@dowjones.com
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