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BRIGHTSTAR RESOURCES LIMITED Capital/Financing Update 2007
64581_rns_2007-03-11_8781bb7e-6f2c-44b8-9d55-0fc4cddaf97e.pdf
Capital/Financing Update
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12 March 2007
ENTITLEMENT ISSUE AND CAPITAL RAISING CLOSES FULLY SUBSCRIBED RAISING \$5.73 MILLION
MAJOR GOLD DRILLING PROGRAM CURRENTLY UNDERWAY
The Directors are pleased to advise that they have placed the balance of the shortfall for the Non Renounceable Entitlement Issue to new and sophisticated investors.
As a result a further 5,599,553 ordinary fully paid shares will be issued at 19.5 cents each to raise a total of \$1,091,913. In addition a free attaching option will be issued for every two shares (as was the case for all other shares in the Non Renounceable Entitlement Issue). This will see a further 2,799,758 options issued exerciseable at 25 cents on or before 30 November 2008.
The shares and options will be downloaded into the issuer sponsored sub-register today, Monday 12 March 2007. After this issue the Company will have a total of 89,245,384 ordinary fully paid shares on issue. The total number of shares allotted to date pursuant to the Entitlement Issue is 29,382,735 to raise \$5,729,633 (before costs of the issue).
The Directors are very pleased with the support shown by shareholders and investors in A1. Most of the funds will be used to finance the cost of the BrightStar Gold Project mining feasibility studies and to assist the funding of plant construction.
In addition a major drilling program is also currently underway to expand and upgrade resources as well as test high priority areas of mineralisation.
A statement setting out the top 20 largest holders of the ordinary shares and the percentage held is attached together with a range summary in respect of the new class of option holders.
Yours faithfully
MARK PITTS Company Secretary
Suite 34, 25 Walters Drive, Osborne Park WA 6017 Telephone (618) 9244 1400 Facsimile (618) 9244 1600 Email [email protected] Website www.a1minerals.com.au ABN 44 100 727 491
| No. Of Shares | % Held | Rank |
|---|---|---|
| 6,416,666 | 7.19 | 1 |
| 3,750,000 | 4.20 | 2 |
| 2,050,000 | 2.30 | 3 |
| 2,000,000 | 2.24 | 4 |
| 1,650,000 | 1.85 | 5 |
| 1,500,000 | 1.68 | 6 |
| 1,500,000 | 1.68 | 7 |
| 1,400,000 | 1.57 | 8 |
| 1,399,835 | 1.57 | 9 |
| 1,399,835 | 1.57 | 10 |
| 1,300,000 | 1.46 | 11 |
| 1,025,326 | 1.15 | 12 |
| 1,025,000 | 1.15 | 13 |
| 960,000 | 1.08 | 14 |
| 889,509 | 1.00 | 15 |
| 858,000 | 0.96 | 16 |
| 800,000 | 0.90 | 17 |
| 772,000 | 0.87 | 18 |
| 754,755 | 0.85 | 19 |
| 719,667 | 0.81 | 20 |
TOP 20 LARGEST HOLDERS OF ORDINARY FULLY PAID SHARES
RANGE APPLICABLE TO NEW CLASS OF UNLISTED OPTIONS
Options are exercisable by the payment of 25 cents on or before 30 November 2008.
| Range | Number of Holders |
Shares Held |
|---|---|---|
| $1 - 1,000$ | 20 | 11,290 |
| $1,001 - 5,000$ | 75 | 232,106 |
| $5,001 - 10,000$ | 53 | 420,714 |
| 10,001 - 100,000 | 149 | 4,772,850 |
| 100,001 and over | 35 | 9,254,386 |
| 332 | 14,691,346 |
Yours sincerely,
Mark Pitts Company Secretary On behalf of A1 Minerals Limited
Suite 34, 25 Walters Drive, Osborne Park WA 6017 Telephone (618) 9244 1400 Facsimile (618) 9244 1600 Email [email protected] Website www.a1minerals.com.au ABN 44 100 727 491
BACKGROUND TO A1 MINERALS LIMITED
A1 Minerals Limited (A1) is an emerging Australian gold miner based in Perth. The Company's projects are situated in the highly prospective Laverton district in the Eastern Goldfields of Western Australia, which is a frontier for new gold deposits, some of which have become world class mines. Modern techniques have found more than 20 million ounces of gold in this district in the past 20 years, including the World Famous Granny Smith/Wallaby and Sunrise Dam gold mines.
Formed in May 2002, A1 successfully listed on the Australian Stock Exchange in December 2003 (ASX:AAM). Since that time, A1's flagship, the BrightStar Gold Project, has grown substantially in resource ounces and ground holdings and is currently progressing towards production.
In addition to BrightStar, A1's Narnoo Exploration Project is undergoing very advanced and sophisticated exploration for gold, uranium and base metals. Situated in the Great Victoria Desert, Narnoo straddles the boundary between Archaean and Proterozoic aged rocks in a region where gold and uranium prospectivity is highlighted by the discovery of the Anglogold/Independence Tropicana Gold Deposit and the occurrence of the Mulga Rocks Uranium Deposits.
A1 diligently undertakes extensive exploration programs, testwork and feasibility studies on its projects and continues to grow its global resource through successful exploration and the prudent acquisition of gold assets in the Laverton region.
With a very experienced Board and management team A1 is on target to become a successful gold miner and has the potential for developing a multi-million ounce gold resource in one of the world's premier exploration and mining locations.