PZG - Pamodzi Gold Limited - Update on capital raising and further cautionary
PZG
PZG
PZG - Pamodzi Gold Limited - Update on capital raising and further cautionary
announcement
Pamodzi Gold Limited
(Previously Bema Gold SA (Proprietary) Limited)
(Incorporated in the Republic of South Africa)
Registration number 2002/013039/06
ISIN: ZAE000088563 & JSE Code: PZG
("Pamodzi Gold" or "the Company")
UPDATE ON CAPITAL RAISING AND FURTHER CAUTIONARY ANNOUNCEMENT
Further to the cautionary announcement released on SENS on 27 June 2008,
shareholders are advised that the Company is in ongoing discussions regarding
certain financing proposals. The Company is no longer pursuing the forward gold
sale and cash settled warrant funding proposal, as a significant portion of the
consortium of international and local investors have withdrawn their non-binding
interest, citing predominantly inadequate legal security as their reasons. The
Company, however, continues to follow the strategy to capitalise its operations
and as such is pursuing a number of both local and international interested
parties. Part of this strategy includes considering restructuring of the
current hedge. Accordingly, shareholders are advised to continue to exercise
caution when dealing in the Company`s securities until a further announcement is
made.
Bruma
15 August 2008
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 15/08/2008 16:30:01 Produced by the JSE SENS Department.
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