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ARUMA RESOURCES LIMITED — Capital/Financing Update 2019
Oct 24, 2019
64273_rns_2019-10-24_a6641707-e77f-4407-92b8-c15ebc262a9e.pdf
Capital/Financing Update
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25 October 2019
ASX Announcement
ASX: AAJ
ARUMA RESOURCES CAPITAL RAISING
Eastern Goldfields explorer, Aruma Resources Limited ( ASX: AAJ ) ( Aruma or the Company ) is pleased to advise that it has received commitments to raise approximately $260,000 through the issue of up to 52 million fully paid ordinary shares at 0.5 cents each (Placement), a premium to Aruma’s closing price on 23 October 2019. The Placement is being made to sophisticated investor clients of Rawson Lewis, Lead Manager to the issue.
Funds raised from the Placement will be used for ongoing exploration of Aruma’s existing gold projects including costs associated with the recently completed RC drilling of high priority targets identified from an airborne electromagnetic survey, costs of the offer and general working capital. The Placement will be undertaken utilising the Company’s existing placement capacity pursuant to ASX listing rule 7.1A.
Capital Structure 657M Shares on Issue 12M Options on issue
Board of Directors
Non-Executive Chairman Paul Boyatzis Managing Director Peter Schwann
Non-Executive Director Mark Elliott
Company Secretary Phillip MacLeod
Active Gold Projects
Aruma’s Slate Dam, Beowulf and Clinker Hill Gold Projects contain significant underexplored exploration targets within a large (806 km[2] ) highly prospective land package.
Using the latest technology, Aruma this year completed a major Airborne Electromagnetic (AEM) survey to define drilling targets for gold deposits on its Beowulf and Slate Dam projects, in both under-cover and newly discovered greenstone belts.
SLATE DAM PROJECT
BEOWULF PROJECT
CLINKER HILL
A 21 hole RC drilling program was designed to test the high priority targets generated from the AEM survey and soil geochemistry. A suitable drill rig was recently secured and the drilling program completed.
Results will be released when available.
For further information please contact:
Peter Schwann - Managing Director
Aruma Resources Limited Telephone: +61 8 9321 0177 Mobile: +61 417 946 370 Email: [email protected]
Media and Investor Relations
Mandate Corporate Mobile: +61 420 991 574 Email: [email protected]
Head Office
Level 1, 6 Thelma Street West Perth, WA 6005 T +61 8 9321 0177 F +61 8 9226 3764
E [email protected] W www.arumaresources.com
Postal Address
PO Box 152 West Perth, WA 6872
ABN 77 141 335 364