Tuesday, July 28, 2009

Augusta Resources to issue $25 million in stock to fund Rosemont mine

Augusta Resources announced that they entered into an underwriting agreement for the issuance of 12,380,000 common shares at a price of Cdn$2.02 per common share for gross proceeds of Cdn$25,007,600. The funds will be used in developing the Rosemont Copper mine in the Santa Rita Mountains, south of Tucson.

The US Forest Service is conducting an EIS for use of federal lands adjacent to the mine.

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