My god, talk about a waste of capital

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Crystallex International Corporation is a Canadian-based gold company with a successful record of developing and operating gold mines in Venezuela and elsewhere in South America

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no_bear

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My god, talk about a waste of capital

posted on Sep 01, 2008 02:22PM

Infinito completes US$16.9mn placement for Crucitas - Costa Rica

Monday, September 1, 2008

Calgary-based Infinito Gold (TSX-V: IG) reported that it has completed a non-brokered private placement for Cdn$18mn (US$16.9mn) which it will use to advance the ongoing construction of its Crucitas project in Costa Rica as well as for general corporate purposes.

The transaction consisted of convertible notes placed with Exploram Enterprises and Auro Investments.

The notes have a maturation date of August 29, 2013, bear an annual 11% interest payable monthly, and are convertible at any time up to maturity into Infinito Gold common shares at Cdn$0.635/share.

Capital costs for the Crucitas gold project in Costa Rica's Alajuela province are expected to total US$66.2mn.

The project holds probable reserves of 23Mt grading 1.37g/t gold and 3.43g/t silver for 1.01Moz gold and 2.54Moz silver contained.

Business News Americas

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