Seeking Alpha

Proactive Investor's  Instablog

Proactive Investor
Send Message
Proactiveinvestors is a leading multimedia news organization, investor portal and events management business with offices in New York, Sydney, Toronto and London. Proactiveinvestors operates five financial websites in four languages providing breaking news, comment and analysis on hundreds of... More
My company:
Proactiveinvestors
My blog:
Proactiveinvestors
  • Lachlan Star Gains Substantial Shareholder  0 comments
    Mar 21, 2013 8:17 PM

    Gold producer Lachlan Star (ASX: LSA) has added I.G. Investment Management to its register as a substantial shareholder with a 5.24% interest.

    I.G. Investment Management holds 4.8 million shares in Lachlan.

    Lachlan was recently added to the All Ordinaries Index in the March quarterly S&P/ASX rebalance.

    The company had around A$7.5 million in cash at the end of December 2012 and has raised a up to a further C$10 million via a secured debt facility with Sprott Resource Lending Partnership.

    The proceeds from the debt facility will be used as working capital to advance Lachlan's projects.

    The company's owner mining fleet has been operating at budgeted levels and mining at the high grade Chisperos pit is now accessing ore.

    The debt facility provides working capital for the company, setting it up for a strong calendar year 2013.

    Last quarter Lachlan produced 13,722 ounces of gold at its CMD Gold Mine in Chile, an increase of 32% under its ownership.

    Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.

Back To Proactive Investor's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers

StockTalks

More »
Posts by Themes
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.