Battle financing

Battle Mountain Gold (NYSE) is planning an issue of five million common shares which will gross about $105 million. The deal is one in a series of large gold equity offerings which have hit the market soon after the rally in gold prices began in late November. Late last year, American Barrick Resources and LAC Minerals placed a combined $404 million of stock with institutional investors. Battle Mountain says the cash from its offering will be used for corporate purposes, including capital expenditures and potential acquisitions in the gold mining industry.