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SMC to accelerate expansion

SMC Gold has arranged a $5 million rights issue to fund the expansion of its Chilean gold-copper operations to 60,000 ounces of gold (equivalent) per annum by mid 2005, generating pre-tax cashflow of $1 million per month.

Rebecca Keenan
SMC to accelerate expansion

The issue, which is fully underwritten by Claymore Capital, offers shares priced at 9c on a two for nine non-renounceable rights basis. SMC managing director Rob Kidd told MiningNews.net about $3.6...

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