Lake Shore Gold Corp
Lake Shore Gold Corp. is a mineral exploration company focused on the acquisition, exploration and development of mineral properties with prospects for hosting economic gold deposits in the Canadian Shield in Ontario and Québec. The Company holds a number of 100% owned and joint ventured gold properties in Ontario and Québec, acquired the Bell Creek Mine and Mill Complex and has commenced sinking a shaft on its 100%-owned Timmins West gold deposit near Timmins, Ontario. Lake Shore is a reporting issuer in British Columbia, Alberta, Manitoba, Ontario and Québec, and trades on the Toronto Stock Exchange under the symbol LSG.
Hochschild Mining deputy chairman Roberto Danino joins Lake Shore Gold board
Hochschild Mining PLC (LSE: HOC) said it deputy chairman and executive director Roberto Danino was appointed to the Lake Shore Gold Corp (TSX: LSG) board as a director with immediate effect.
Last week, Hochschild agreed to acquire a further 19.2 million shares in Lake Shore Gold in a private placement to raise its stake in the group to 36 percent from 32 percent, paying C$85 million, or an average price of C$4.43 per share.
In early October the group announced a placing and convertible bond offer to raise US$250 million, for further acquisitions as well as for further investments in Lake Shore Gold Corp and Gold Resource Corp (OTCBB: GORO) as well as for paying down debt.
Since 2008, Hochschild has invested a total of C$343 million in its stake in Lake Shore Gold at an average price of C$2.68 per share. The investment to date reflects its confidence in the significant production potential and long-term growth of Lake Shore Gold, which has a current market capitalisation of approximately C$1.3 billion.
Other Lake Shore Gold Corp news
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18/02/10 Lake Shore Gold extends depth and westerly strike of Timmins Gold Mine
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18/01/10 Lake Shore Gold delivers more good news from Bell Creek Mine drilling
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20/11/09 FD capital raises Hochschild Mining target to £3.45 after expansion of Lake Shore Gold stake
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19/11/09 Hochschild Mining to raise Lake Shore Gold stake to 36 pct through C$85 million private placement
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01/10/09 Lake Shore Gold reports high-grade results from Bell Creek
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21/07/09 Lake Shore Gold discovers substantial new high-grade extension at Bell Creek
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10/12/08 Lake Shore Gold Extends Bell Creek Gold Mineralization
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19/02/08 Hochschild takes chunk of Lakeshore Gold
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