Greystar Resources picks up C$6.1m from IFC warrant move
08 February 2010
Greystar Resources, the mining group behind the development of the multi-million ounce Angostura gold-silver deposit in north-eastern Colombia, has received C$6.1 million (£3.7 million) in new funding. The cash injection follow an exercise of warrants at C$2.47 per share by the International Finance Corporation, a member of the World Bank Group.
The share purchase warrants were issued back in March 2009 as part of a larger C$12.0 million investment round with the IFC. The institution’s position in Greystar now stands at 10.76%.
Greystar said its current cash position stood at approximately C$125 million (£75 million) in cash and no debt.
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