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CRITICAL RESOURCES LIMITED Capital/Financing Update 2011
64708_rns_2011-04-26_ec3016be-0e9a-437c-a96a-ec623ef5e606.pdf
Capital/Financing Update
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Sovereign Gold Company Limited ACN 145 184 667
Level 2, 131 Macquarie Street Sydney NSW 2000 Tel: +61 2 9251 7177 Fax: +61 2 9251 7500
Contact Nick Raffan CEO
email: [email protected]
Latest News www.sovereigngold.com.au
Directors / Officers John Dawkins AO Nick Raffan Michael Leu Peter Meers Jacob Rebek
ASX Symbol: SOC
Sovereign Gold Company is exploring a large Intrusion-Related Gold System at the Rocky River-Uralla Goldfield in New South Wales.
Sovereign Gold's project covers 2,500 square kilometres.
The project is located around the township of Uralla, 21km southwest of Armidale, New South Wales, Australia. with superb infrastructure logistics. It is close to major roads, rail, airport, labour source, university, power, and engineering.
Available production records indicate that the Rocky River-Uralla Goldfield yielded 5,193 kg (approximately 167,000 ounces) of gold mostly from Tertiary deep leads during the period 1858-1967.
Sovereign Gold's exploration objective is to locate the hard rock ore sources.
Placement of 7m Shares to raise \$2.45m
The Company is pleased to announce that it has successfully completed a placement of shares under ASX Listing Rule 7.1 to raise \$2.45 million before costs.
The placement of 7 million ordinary shares at \$0.35 per share is being made to sophisticated and professional investors with Chinese affiliations. Settlement will take place within 30 days.
Sovereign intends to use the proceeds of the issue primarily for funding drilling, geophysical and geochemical exploration programs, and for additional working capital purposes.
Latest results from the RC drilling program are expected in early May.
For further information please contact:
Nick Raffan, CEO Telephone: +61 2 9251 7177