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ARUMA RESOURCES LIMITED — Capital/Financing Update 2019
Mar 7, 2019
64273_rns_2019-03-07_4f6e8f62-62bb-45c6-b501-799e6ba335cc.pdf
Capital/Financing Update
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8[th] March 2019
ASX Announcement
ASX: AAJ
COMPLETION OF PLACEMENT & SHARE PURCHASE PLAN
Eastern Goldfields explorer, Aruma Resources Limited ( ASX: AAJ ) ( Aruma or the Company ) advises it has completed the Placement announced on the 22[nd] February 2019, raising a total of $540,900 at a price of 0.6 cents per share, including a $105,000 commitment from Directors.
Aruma is also pleased to offer existing eligible shareholders the opportunity to participate in a Share Purchase Plan (SPP) on the same terms as the Placement.
The SPP will raise up to $600,000 through the issue of up to 100 million fully paid ordinary shares at 0.6 cents per share. The SPP will be undertaken on a “first come - first served” basis at the discretion of the board of directors.
In combination, the Placement and SPP will raise up to $1.14 million. Funds raised will be used for targeted drilling at the Kopai Gold Project, situated along strike from Evolution Mining’s major White Foil gold mine, as well as continued exploration at Aruma’s other advanced gold projects, and costs of the offer and general working capital.
The record date for the SPP is the 7[th] March 2019.
About Aruma
Aruma is a gold focused Perth-based exploration company with advanced greenfields projects in the Eastern Goldfields of Western Australia.
Capital Structure 584M 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
KOPAI PROJECT
SLATE DAM PROJECT
BEOWULF PROJECT
Aruma’s Kopai Gold, Slate Dam and Beowulf Projects contain significant underexplored exploration targets within a large (806 km[2] ) highly prospective land package.
The Kopai leases are directly along strike of Evolution Mining's White Foil gold mine and the drilling targets are defined by gold anomalies on structural and stratigraphic features.
Using the latest technology, Aruma has recently 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.
Results of the AEM Survey will be released in the near future.
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]
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
Media and Investor Relations
Mandate Corporate Mobile: +61 420 991 574 Email: [email protected]
Postal Address
PO Box 152 West Perth, WA 6872
ABN 77 141 335 364