Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (4864)	2/14/2014 9:21:16 PM
From: Goose94	Respond to of 203020

TGZ-T year to date high, $1.21

To: Goose94 who wrote (4864)	5/3/2014 12:41:05 PM
From: Goose94	Read Replies (1) \| Respond to of 203020

Teranga Gold (TGZ-T) May 1st, 2014 has closed its previously announced offering, on a bought-deal basis, of 36 million common shares at a price of 83 cents per share for gross proceeds to the company of $29.88-million. The offering was completed through a syndicate of underwriters led by Cormark Securities Inc., and including Macquarie Capital Markets Canada Ltd., CIBC World Markets Inc., RBC Dominion Securities Inc., Scotia Capital Inc, Canaccord Genuity Corp., Desjardins Securities Inc. and Jennings Capital Inc. In connection with the offering, the company has also granted to the underwriters an option to purchase up to an additional 5.4 million shares at a price of 83 cents per share, on the same terms and conditions as the offering, exercisable at any time, in whole or in part, until May 31, 2014. "In summary, this financing strengthens our balance sheet and allows us to plan and execute on our growth initiatives while reducing our vulnerability to near-term gold price volatility," said Richard Young, president and chief executive officer. "We intend to use the net proceeds of the offering for working capital and general corporate purposes, which when combined with our existing cash position as well as cash from operations, will enable us to execute on our short- and medium-term objectives, as disclosed in our year-end report. Specifically, this will allow us to increase reserve development expenditures to expedite the conversion of resources to reserves on our mine licences, accelerate heap-leach testing and related activities, and execute on mill optimization opportunities to potentially increase our milling rate."