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Lake Shore Gold Corp.(LSG.TO) Hitting Targets with Gold Production Up while Maintaining Cost Cuts

Posted on August 17, 2012 by OTC Equity

News that Lake Shore Gold Corp. (LSG.TO) had increased the size of its previously announced public offering, on a "bought deal" basis, to C$90 million principal amount of convertible senior unsecured debentures, at a price of C$1,000 per debenture, with an interest rate of 6.25% per annum, hasn't set well with shareholders as the company has seen shares fall to a low of 0.89 on Friday, this after closing Thursday's session at 1.11. The C$90 million is a jump from the original amount of C$75 million with the proceeds expected to be used to repay and extinguish the company's US$50 million three-year corporate revolving facility and for general corporate purposes. This news triggered significant activity in LSG.TO on Friday with more than 7 million shares moving hands by mid-day, this after seeing volume of 838,000 on Thursday. As part of the details regarding this public o...

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