Indochine Mining to raise millions

Gold and copper miner Indochine Mining Ltd, which is exploring concessions in two Cambodian provinces, said it expects to raise as much as AU$25 million (US$24.5 million) in an initial public offering after receiving commitments from investors worldwide.

Indochine’s Phnom Penh-based operations manager and board member Ross Hill said that many institutional investors were seeking exposure to Cambodia’s gold and copper resources, with investors confirmed from the United Kingdom, Switzerland, the United States, Papua New Guinea, China, Malaysia and Australia.

“Already attracted at an early stage and continuing to support the company are some of the world’s most prestigious and professional investment houses,” he told the Post via email.

“For example, the company’s largest single investor Jabre Capital Partners is one of Europe’s biggest and the best performing fund in 2009.”

Priced at AU$0.20 per share, Indochine aimed to raise $12 million with provision to float another $13 million worth of shares, depending on demand.

With tenements of 2,900 square kilometres in Ratanakiri province and 1,400 square kilometres in Kratie province, Indochine claims to have the largest landholding of all miners in the Kingdom....read the full story in tomorrow’s Phnom Penh Post or see the updated story online from 3PM UTC/GMT +7 hours.