GBS Gold stock falls 15 per cent after miner says it's in the middle of review

Published Friday September 5th, 2008

THE CANADIAN PRESS

TORONTO - GBS Gold International Inc. (TSX:GBS) stock fell 15 per cent amid a continued review of its operations and financing requirements.

Shares in the Toronto gold company traded at 11.5 cents, down two cents on a volume of 2.7 million on the TSX. The Toronto stock market faced a fourth day of steep losses Friday as investor pessimism about economic conditions deepened.

GBS new management team said Thursday the review is focused on the company's short term mine schedule and cash resources following recent production disruptions in the Brocks Creek underground mine.

"Discussions have also progressed with key shareholders, noteholders and lenders regarding future financing plans," GBS said.

GBS Gold is a junior gold producer with operations in Australia.

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