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BREAKTHROUGH MINERALS LIMITED — Capital/Financing Update 2010
Apr 8, 2010
64579_rns_2010-04-08_443ee792-9e45-428c-a0ff-e6293429be27.pdf
Capital/Financing Update
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Level 1, 18 Kings Park Rd West Perth WA Australia 6005 PO Box 636 West Perth WA Australia 6872 Tel 61 8 9322 2033 61 8 9322 2055 Fax 61 8 9322 2100 www.atomicresources.com.au [email protected]
9[th] April 2010
10-14 ASX Code: ATQ
Company Announcement Officer Australian Securities Exchange
Atomic Purchases Remaining Rights to Uaroo
Prior to listing on ASX, the Company acquired the rights to explore for and mine uranium on E080/1494 and E080/1495, being two granted exploration licences within the Ashburton Minerals field totalling an area of approximately 400km[2] (Uaroo Project Tenements), from IGC Aust Pty Ltd (IGC), a subsidiary of Canadian listed resources company IGC Resources Inc.
The Company has entered into an agreement with IGC pursuant to which, subject to Shareholder approval, it has agreed to acquire the remaining legal and beneficial title to the Uaroo Project Tenements from IGC. Following the acquisition of the Uaroo Project Tenements, the Company will have the right to explore for all minerals on the tenements.
As Mr Clive Hartz is a director of both Atomic and IGC, shareholder approval is required to approve this transaction and a General Meeting will be convened.
In consideration for acquisition of the Uaroo Project Tenements, the Company has agreed to issue IGC 350,000 ordinary shares. The preferred notional value of the tenements was the subject of an independent valuation report prepared by Ravensgate Mineral Industry Consultants.
Tom Melanko Company Secretary