Aureus Energy sets fund-raising prices

LONDON (ShareCast) - Stock available in gold miner Aureus Mining's recently announced rights issue will be priced at 80 Canadian cents a unit, while securities available through the private placement will be placed at 50p per unit.

Each unit is comprised of one common share of the company and one-quarter of one common share purchase warrant of the company; each Warrant will entitle the holder thereof to purchase one Aureus common Share at a price of 62.5p (or the equivalent in Canadian dollars) for a period of 18 months from the date on which the offering closes.

Two company directors, David Reading and Luis da Silva, will be buying shares through the placement, with Chief Executive Officer Reading subscribing for 75,000 units and non-executive director da Silva 10,000.

In total, the company is raising C$80m to support the development of the New Liberty gold project in Liberia.