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Bema Gold raises £40m

Companies: BAU

27/10/2004

Vancouver-based and AIM-quoted Bema Gold has agreed a £45 million 'bought deal' financing arrangement for its Kupol prospect in Russia, writes Robert Tyerman.

Headed by entrepreneur Clive Johnston, Bema is to issue 27.4 million shares at 165p to a syndicate of backers impressed by the potential of Kupol and the company's other assets. The shares are 4p down today at 162.5p.

Robert Tyerman

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