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Gold/Mining/Energy : Gold and Silver Mining Stocks
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To: goldsheet who wrote (3428)10/12/2002 12:22:46 AM
From: goldsheet   of 4051
 
sinogold.com.au - a little Australian firm ready to IPO and crank up operations.

Australian-based Chinese gold producer Sino Gold has locked in some big cornerstone investors for a float planned for next month.

The company said Colonial First State, Standard Bank London, International Finance Corp (the private-sector lending arm of the World Bank) and the South African producer Gold Fields had taken a combined $36 million stake in Sino Gold for a total holding of about 40 per cent of the company.

Sino chairman Nick Curtis said the founding shareholders, Refco Group and the Chinese Government-owned Sino Mining International, would each keep a 16 per cent interest in the company.

Sino, which produces 100,000 ounces of gold a year from its single operation, is looking to lift production to 300,000 ounces within three years and 400,000 within five years by developing three other projects.

REF: theage.com.au
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