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CRITICAL RESOURCES LIMITED — Capital/Financing Update 2013
Jul 18, 2013
64708_rns_2013-07-18_308adff7-a8ba-40a3-b055-62326785db69.pdf
Capital/Financing Update
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ASX Release 19[th] July 2013
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Funding update 2 - Mt Adrah drilling program
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 Michael Leu CEO
email: [email protected]
Latest News www.sovereigngold.com.au
Directors / Officers John Dawkins AO Michael Leu Peter Meers Jacob Rebek
ASX Symbol: SOC
On 11 July Sovereign Gold provided clarification of costs and ongoing funding requirements for the Mt Adrah drilling program.
Sovereign Gold has placed 1.5 million Precious Metal Resources (PMR) shares to professional and sophisticated investors at $0.35 per share to raise $525,000 toward funding its contribution of the exploration costs of Gossan Hill Gold Limited.
At the end of June 2013, cash and receivables for the Sovereign Gold Group were approximately $1.5m.
The next planned drill hole (GHD004) at the Hobbs Pipe 1 deposit is a sub-vertical, angular hole to test the width of the Hobbs Pipe 1 deposit and will cost in the order of $300,000 including assays and analysis.
Sovereign Gold has sufficient funds to meet its current project commitments.
For further information please contact:
Michael Leu, CEO Telephone: +61 2 9251 7177
Media enquiries:
Rebecca Lawson, Mercury Consulting Mobile: +61 432 398 122 [email protected]
Qualifying Statements
The information in this Report that relates to Exploration Information is based on information compiled by Michael Leu who is a member of The Australasian Institute of Mining and Metallurgy and the Australian Institute of Geoscientists.
Mr Leu is a qualified geologist and is a director of Sovereign Gold Company Limited. Mr Leu has sufficient experience, which is relevant to the style of mineralisation and type of deposit under consideration and to the activity, which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Resources. Mr Leu consents to the inclusion in this announcement of the Exploration Information in the form and context in which it appears.