“ … Here is another one. A change in what Human nature will allow for government. "Careful, Kryon, don't talk about politics. You'll get in trouble." I won't get in trouble. I'm going to tell you to watch for leadership that cares about you. "You mean politics is going to change?" It already has. It's beginning. Watch for it. You're going to see a total phase-out of old energy dictatorships eventually. The potential is that you're going to see that before 2013.

They're going to fall over, you know, because the energy of the population will not sustain an old energy leader ..."
"Update on Current Events" – Jul 23, 2011 (Kryon channelled by Lee Carroll) - (Subjects: The Humanization of God, Gaia, Shift of Human Consciousness, 2012, Benevolent Design, Financial Institutes (Recession, System to Change ...), Water Cycle (Heat up, Mini Ice Ace, Oceans, Fish, Earthquakes ..), Nuclear Power Revealed, Geothermal Power, Hydro Power, Drinking Water from Seawater, No need for Oil as Much, Middle East in Peace, Persia/Iran Uprising, Muhammad, Israel, DNA, Two Dictators to fall soon, Africa, China, (Old) Souls, Species to go, Whales to Humans, Global Unity,..... etc.)
(Subjects: Who/What is Kryon ?, Egypt Uprising, Iran/Persia Uprising, Peace in Middle East without Israel actively involved, Muhammad, "Conceptual" Youth Revolution, "Conceptual" Managed Business, Internet, Social Media, News Media, Google, Bankers, Global Unity,..... etc.)

Tuesday, February 03, 2009

Newcrest to Sell A$500 Million in Stock to Repay Debt

By Jesse Riseborough 

Feb. 2 (Bloomberg) -- Newcrest Mining Ltd., Australia’s largest gold mining company, is seeking to sell A$500 million ($319 million) in new shares to repay debt, accelerate expansion plans and pursue growth opportunities. 

The company will sell shares at A$27 each, 13 percent less than to their last traded price, the Melbourne-based company said today in a statement. It will repay $240 million in debt and accelerate expansions at mines in Australia and Indonesia, it said. 

Chief Executive Officer Ian Smith last month said the company was studying mergers and acquisitions as it seeks to boost output to benefit from rising bullion prices. Companies including Rio Tinto Group and Xstrata Plc are planning to sell stock to bolster capital and cut borrowings amid a worldwide credit squeeze. 

“Newcrest has a number of additional organic growth options with the potential to deliver substantial value to shareholders,” the statement said. “The current climate may deliver external opportunities and Newcrest wants to be in a strong position if they arise.” 

The company is planning a A$2 billion expansion at its Cadia Valley operations to build Australia’s largest underground mine. It will produce gold for more than 30 years. 

“A sustained level of depreciation of the Australian dollar is expected to increase the capital cost of projects,” Newcrest said today in a statement. The Aussie has fallen 32 percent versus the greenback in the last six months. 

Newcrest rose 2 percent to A$31 on Jan. 30 on the Australian stock exchange. Trading in the shares will be halted until Feb. 4. 

Newcrest said net income was between A$147 million and A$157 million in the six months ended Dec. 31, compared with a loss of A$8.1 million a year earlier. Underlying profit, excluding a A$87.6 million charge related to closing out its forward sales contracts, was between A$235 million and A$245 million, it said. 

To contact the reporter on this story: Jesse Riseborough in Melbourne at jriseborough@bloomberg.net 

Last Updated: February 1, 2009 18:42 EST

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