Great Basin Gold Finishes $130 Million Equity Financing

Great Basin Gold Ltd. has completed a $130 million equity financing. The financing itself was for 100 million units, each costing $1.30. The units contained one common share and half a purchase warrant, with exercise price of $1.60 and October 15, 2010 expiry date. The warrants are now trading, with GBG.WT.A being the symbol. As the news release recounts, the proceeds will be used for development of the company's Burnstone project in South Africa.

This item hit the web yesterday, right after trading opened. Upon closing, Great Basin was at $1.27 for a drop of 4 cents on moderately heavy volume. GBG.WT.A closed at 25.5 cents, up half a penny.

The company's Google Finance web page is here.

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