Listed gold explorer Glass Earth Gold has gained shareholder approval to consolidate the number of shares on issue, with 10 old shares to be reissued as one new share.
Glass Earth Gold is looking to consolidate its number of shares on issue, by swapping 10 old shares for one new share.
Alluvial gold production from the Maniototo valley, in Otago, increased four-fold for Glass Earth Gold to $C2.97 million ($NZ3.49 million) for the past year, but the booking of accumulated exploration costs saw the company lodge a $C11.1 million ($NZ13 million) loss.
The fortunes of boutique gold producer Glass Earth Gold are gaining momentum, as weekly Central Otago gold production surpasses $NZ150,000 and the company confirms private placement funding well beyond a targeted $C3 million ($NZ3.68 million), from investors worldwide.
Boutique gold producer Glass Earth Gold has tripled quarterly revenues from gold production to more than $1 million and estimates the present quarter will make further gains.
Glass Earth Gold is breaking even at its mining operations in Central Otago's Manuherikia Valley as the boutique producer moves into better gold-producing ground.
Explorer and boutique producer Glass Earth Gold has taken an option to buy a gold and silver prospect north of the Martha mine in the central North Island, in a 50:50 venture with mining entity Geoff Loudon.
Boutique Otago gold producer Glass Earth Gold has raised a further $C360,000 ($NZ456,000) in private-placement funding as it juggles cash-flows against ongoing exploration costs at North Island prospects.
Accumulated exploration cost write-offs have pushed boutique gold producer Glass Earth Gold into an $8.49 million loss for the half-year to June, but it remains confident cash-flows from gold recovery are achievable.
Otago is in the midst of a modern-day gold rush.
Boutique Otago gold producer Glass Earth Gold has clinched $C2.35 million ($NZ2.95 million) from private equity placements out of Canada, enabling it to refinance the $4 million buy-out of its former joint venture partner.
Boutique explorer Glass Earth Gold has made a bold prediction - that it plans to extract $6 million from its Central Otago tenements next year - while announcing a $C2.2 million ($NZ2.77 million) recapitalisation programme.
Boutique gold producer and exploration company Glass Earth Gold is beginning to ramp up its Central Otago gold production, after "disappointing" production during its first quarter.
Southern gold producer Glass Earth Gold has entered a $4 million joint venture with Newmont Mining to undertake a drilling programme at a gold and silver prospect in Hauraki, in the North Island.
Gold explorer and boutique producer Glass Earth Gold has posted a $C1.71 million ($NZ2.13 million) loss for calendar 2011 trading, but retains $C3.6 million cash in hand for ramping up its Central Otago gold-extraction programme.
Listed Glass Earth Gold has announced a "significant" gold find during test drilling in the Hauraki region, with one of the 19 results finding 17.2g of gold per tonne (g/t) and 24.2 g/t of silver in a 9.7m drilling sample.
Glass Earth Gold, which retains extensive exploration permits around Otago, has delivered its first drilling results from its North Island tenement, 65km southeast of Waihi.
Exploration company Glass Earth Gold is forecasting "significant" revenue increases this year from its boutique mining operation in Otago - with more than $C4.4 million ($NZ5.7 million) cash on hand for 2011 operations.
Otago gold explorer and boutique producer Glass Earth Gold has completed a $C2.73 million ($NZ3.9 million) capital-raising programme from a private placement to fund further exploration.
Gold exploration company Glass Earth Gold has raised $C996,300 ($NZ1.4m) in the second tranche of a private placement.