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ASARA RESOURCES LIMITED — Capital/Financing Update 2012
Aug 21, 2012
64427_rns_2012-08-21_222e57cc-9fc7-4475-98c5-fe83574594b2.pdf
Capital/Financing Update
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ASX/Media Announcement 22 August 2012
Share Purchase Plan Offer Extended
Golden Rim Resources Ltd (ASX: GMR, Golden Rim ) today announced it had extended the offer of shares under the Share Purchase Plan lodged with the ASX on 1 August 2012 ( Plan ). The Plan will now close on 29 August 2012.
The Company is offering to eligible shareholders the ability to subscribe either for $2,500, $7,500, or $15,000 worth of fully paid ordinary shares at a price of 10 cents each through the Plan.
The Company recognises the difficult economic environment shareholders are experiencing and is pleased to announce that to date, applications under the Plan have totalled over $1.4 million. However, to provide eligible shareholders the full opportunity to participate, the Company has extended the close date by one week to 29 August 2012.
The Company recently conducted a placement of 25.4 million fully paid ordinary shares at a price of 10 cents each to raise $2.5 million. Shares under the placement will fund a deeper diamond drilling program on the high grade Netiana Lodes, metallurgical testwork, and completion of a maiden JORC resource estimate at Balogo in Burkina Faso. In addition, the funds raised by the Plan will allow work to progress on the Company’s second gold project at Yako, Burkina Faso.
A summary of indicative key dates under the Plan is set out below:
| Key Date | Event | Description |
|---|---|---|
| 29 August 2012 | Closing Date | Share Purchase Plan closes. Applications mustbe received by 5pm Perth time |
| 3 September 2012 | Allotment Date | Shares allotted |
| 4September 2012 | Despatch Date | NewShare statements sent to shareholders |
The above key dates are indicative only and the directors of the Company reserve the right to amend these key dates.
The Company refers all eligible shareholders to the 2012 Share Purchase Plan Offer posted to them.
-ENDS-
For further information, please contact:
Hayley Butcher Ann M Nahajski Golden Rim Resources AMN Corporate Company Secretary +61 400 205 433 +61 8 9481 5758 [email protected]
Golden Rim Resources Ltd I ABN 39 006 710 774 I Level 2, 10 Outram Street, West Perth WA 6005, Australia I PO Box 378, West Perth WA 6872, Australia www.goldenrim.com.au I [email protected] I T + 61 8 9481 5758 I F + 61 8 9481 5759
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About Golden Rim Resources Limited
Golden Rim Resources Ltd (ASX: GMR) is an exploration company with a focus on gold. The Company is active in West Africa, with a pipeline of six gold projects covering around 4,100km[2] in the highly prospective Birimian greenstone belts of Burkina Faso and Mali.
Golden Rim has recently made a significant, near-surface, high grade gold discovery at its Balogo Project in Burkina Faso. Drilling intercepts at Balogo are arguably some of the best gold intercepts obtained in West Africa in recent years.
The Company is about to embark on a deeper diamond drilling program at Balogo to extend the gold mineralisation at depth and it aims to calculate a JORC resource towards the end of 2012.
With continued success at Balogo and at its other projects in West Africa, Golden Rim is poised to deliver significant growth and value to shareholders.
Further Company Information
E: [email protected] W:goldenrim.com.au
Capital Structure
Issued Shares: 438,706,231 Unlisted Options: 29,950,000
Major Shareholders
Royal Group, Abu Dhabi 12.4% Acorn Capital 7.6%
Share Registry
Security Transfer Registrars Pty Ltd 770 Canning Highway APPLECROSS WA 6153 AUSTRALIA
T: + 61 8 9315 2333 F: + 61 8 9315 2233 E: [email protected] W: securitytransfer.com.au
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