Sydney, Oct 15, 2007 (ABN Newswire) - Mining company Crescent Gold (CRE) rose by as much as 20% today after the board said it plans to substantially grow the business through "synergistic transactions" as the company has reached the final stages of commissioning its Laverton Gold Project in Kalgoorie, Western Australia. Crescent Gold will offer its shareholders a pro rata distribution of shares in its copper/uranium assets in South Australia and the Northern Territory, currently held by subsidiary Uranium West. This will potentially create a separately listed vehicle. A month ago, Crescent Gold said it had advanced more quickly than anticipated to owner-operator of the Laverton mill and the final stages of commissioning and expansion would see production ramp up to 90,000 ounces of gold a year. The company announced that as part of the strategy, Roland Hill will assume the role of Managing Director along with his current position as Acting Chairman of Crescent Gold. He will "take responsibility for growing the gold-focused business organically through exploration and for executing the Company's existing development plan," said Crescent Gold. In addition, former managing director of Crescent Gold, Andrew Haythorpe, has resigned from the board to progress Uranium West and focus on the uranium strategy. "Further details in relation to the planned listing of Uranium West will be provided in due course but, as a guide, it is anticipated that preliminary investigation will be completed prior to the end of 2007." By mid-afternoon, the stock was trading at 44 cents, up from its previous close of 40 cents. More than 1.9 million Crescent Gold shares changed hands. Its average daily volume is 347,000.

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