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ASARA RESOURCES LIMITED — Capital/Financing Update 2013
Aug 27, 2013
64427_rns_2013-08-27_9e1a1e86-a059-4c76-80c4-8d7edfc565a9.pdf
Capital/Financing Update
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ASX/Media Announcement
28 August 2013
Golden Rim Renegotiates Korongou Deal
Golden Rim Resources Ltd ( Golden Rim ; ASX: GMR) today announced that it has negotiated changes to its agreement to acquire the Korongou Project from Epsilon Gold Mines Ltd ( Epsilon ).
Previously, a total of $2 million was payable to Epsilon over a period of two years and an additional US$1 million was payable upon the commencement of a Bankable Feasibility Study by Golden Rim. Under the new terms, US$1.5 million is payable over a period of two years and an additional US$1.5 million will be payable upon a Decision to Mine. Golden Rim has already provided $500,000 of the initial payments.
The renegotiation is part of Golden Rim’s stringent financial management processes. The Company is focused on preserving as much cash as possible for exploration purposes and to progress the Bankable Feasibility Study at Netiana, Balogo Project.
Golden Rim’s Managing Director, Craig Mackay, said “We are pleased that we were able to renegotiate the staged payments. With the current difficult market conditions, our goal is to be prudent and to be careful with our cash while still progressing our projects”.
We take this opportunity to invite attendees to the Africa Downunder Conference, to be held in Perth this week, to visit our booth and speak with management.
-ENDS-
For further information, please contact:
Hayley Butcher Golden Rim Resources Company Secretary +61 8 9481 5758
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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Further Company Information
E: [email protected] W:goldenrim.com.au
Capital Structure
Issued Shares: 653,006,923 Unlisted Options: 33,650,000
Major Shareholders
Royal Group, Abu Dhabi 8.34%
Share Registry
Security Transfer Registrars Pty Ltd 770 Canning Highway APPLECROSS WA 6153 AUSTRALIA
T: + 61 8 9315 2333
F: + 61 8 9315 2233
W: securitytransfer.com.au
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