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OceanaGold hoping to raise funds

December 4, 2012 - 5:04pm

OceanaGold hopes to raise more than $100 million Canadian dollars in a fully-underwritten share issue.

The Melbourne-based company has agreed to sell 30 million shares to a syndicate of underwriters for $93 million Canadian, with an option for an extra 15%.

Market insiders say the move would give the company a healthy balance sheet, with capital to invest in more mining operations.

OceanaGold shares have been halted on the NZX as the process takes place.