JOHANNESBURG (miningweekly.com) – London-listed Golden Saint has raised some £150 000 through the issue of 500-million new ordinary shares at 0.03p a share to fund general working capital for its alluvial mining operations.
The company also planned to use some of the proceeds to fund its participation at a diamond show in Myanmar during the first week of April.
Director Cyril D'Silva’s family trust, D'Silva Investments, subscribed for 100-million shares, bringing his shareholding to some 8.81% from an aggregate 231.5-million Golden Saint shares in his own name, through the trust and through Aital Systems.
Golden Saint executive chairperson David McDonald, who currently held 1.42-million shares, was subscribing for 8.3-million ordinary shares.
Millennium Vista subscribed for 309.6-million shares to add to its current 4.5-million ordinary shares, bringing its stake up to 11.96%.
Golden Saint has a number of projects in Sierra Leone.