Glencairn announces change in direction/BELEAGUERED GOLD PRODUCER TO SELL CERRO QUEMA, FOCUS ON NICARAGUA

摘要

A day after Glencairn Gold (GGG-T, GLE-X) announced it was selling its Cerro Quema gold project in Panama in order to focus on its Nicaraguan gold assets, the Canadian junior unveiled a 25-million dollars financing, a new head of exploration, and three new directors. The equity financing will allow Glencairn to complete the conversion of its La Libertad mine in Nicaragua from a heap-leaching operation to a conventional mill circuit, as well as improve efficiencies at its Limon mine and sink 7 million dollars over the next year and a half into an exploration program to expand mineral reserves and resources.