SPDR Gold Trust (GLD)

[NYBob]

Gran Colombia to raise equity funds for drilling -
Gran Colombia Gold has filed a preliminary short form prospectus in Canada
for a C$25 million best efforts offering led by GMP Securities and
Scotiabank at a price to be determined by the market.




Gran Colombia to raise equity funds for drilling
Gran Colombia aims to accelerate drilling at Segovia, Colombia

https://www.mining-journal.com/gold-and-silver-news/news/1357772/gran-colombia-to-raise-equity-for-drilling

The company intends to use the net proceeds to accelerate exploration
at its Segovia gold operation in Antioquia, Colombia, over and above
the 20,000m of drilling already planned for 2019.

"We want to drill over the next two years what would have taken us
five years to do at the rate of 20,000m a year.
This allows us to accelerate our exploration with minimal share
dilution," CFO Mike Davies told Mining Journal.

Funding from the raise will allow Gran Colombia to accelerate
exploration for extensions of the three veins it currently mines and
24 other known veins in its Segovia mining title.
Using an additional four to five drilling rigs the company aims to
drill up to 80,000m over the next two years.

Segovia produced more than 193,000 ounces of gold in 2018 for
Gran Colombia, and with its financial position continuing to
improve it has begun focusing on blue-sky potential to potentially
increase its production and extend Segovia's mine life.

On a day when the gold price saw a significant pullback, shares in
Gran Colombia (TSX:GCM) fell almost 19% to $3.57 valuing
the company at $205 million.

https://www.mining-journal.com/gold-and-silver-news/news/1357772/gran-colombia-to-raise-equity-for-drilling

http://www.grancolombiagold.com/news-and-investors/events-and-presentations/presentations/default.aspx

http://www.grancolombiagold.com

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