China Shen Zhou Mining & Resources Selling $20 Million In Mixed-Shelf Offering (SHZ)

China Shen Zhou Mining & Resources SHZ announced this morning it would be selling approximately $20 million of common stock at a price of $7.05 per share. It will issued 2,836,883 shares to institutional investors. It will also issue warrants to buy up to an additional 851,066 shares of common stock. The warrants have an excercise price of $8.46 price. At last check, shares of China Shen Zhou Mining & Resources were down $1.49 to $6.62 in early trading. China Shen Zhou Mining & Resources, Inc.is engaged in the exploration, development, mining, and processing of fluorite and nonferrous metals such as zinc, lead and copper in China.