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BARYS RESOURCES LIMITED — Capital/Financing Update 2012
Nov 5, 2012
64567_rns_2012-11-05_bf57cdb9-2367-4b6f-be51-3d722b6490f7.pdf
Capital/Financing Update
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6 November 2012
ANNOUNCEMENT
ENTITLEMENT ISSUE SHORTFALL PLACEMENT
Mining Group Limited (ASX: MNE) is pleased to advise that it has received firm commitments to subscribe for 25,202,344 new shares, comprising the remaining shortfall in the Company’s pro rata renounceable entitlement issue of up to 50,202,344 new shares at an issue price of $0.10 per new share, offered pursuant to the Company’s Prospectus dated 1 August 2012.
The shortfall was placed with clients of Lead Manager, Patersons Securities Limited and Cygnet Capital Pty Ltd.
The Company will receive approximately $2.5 million (before costs) from the shortfall placement, which will be used for exploration work at the Comval Copper Gold Project and general working capital.
The Company expects to complete the allotment of new shares on or around 13 November 2012.
For further information please contact: Zeffron Reeves Managing Director [email protected] P: + 61 8 9322 6424
Media Investors Carrie Parsons Ronn Bechler LastSay Communications Market Eye [email protected] [email protected] P: +61-433 472 947 P: +61-400 009 774
About Mining Group Limited
Mining Group Limited (ASX: MNE) is an ASX listed, Australian based exploration company established to explore, evaluate and acquire commercially significant resource projects in Australia and overseas.
Mining Group seeks to develop the Comval Copper Gold Project in the Philippines along with exploring the prospective Western Australian based Boorara, Teutonic and Lake Christopher Projects.
Mining Group has a strong Board and management team with considerable technical, commercial and corporate experience in the resources sector.
For more information visit the Mining Group website at www.mininggroup.net.au
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