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DEEP YELLOW LIMITED — Capital/Financing Update 2008
Aug 20, 2008
64808_rns_2008-08-20_dfa64691-a509-4707-a0e5-99a1cffa545d.pdf
Capital/Financing Update
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21 March 2008
Manager Company Announcements Company Announcements Office Australian Stock Exchange Limited Level 10, 20 Bond Street
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ABN 42 082 593 235
SYDNEY NSW 2000
Electronic delivery No of pages: 1
Clarification of earn-in terms for NW Queensland JV with Deep Yellow Limited
Matrix Metals Limited ("Matrix") would like to clarify the terms under which Deep Yellow Limited (“DYL”) can earn-in to the NW Queensland JV (for uranium only) (“NWQJV”) and then ultimately acquire 100% of the uranium rights on individual specific individual uranium resources.
In summary, DYL must spend $3 million on exploration within the joint venture by 28 February 2009, to acquire a 51% interest in the NWQJV. DYL will then have the option to acquire a further 29% in the NWQJV by direct payment of $3 million to Matrix prior to commencement of “a bankable feasibility study in relation to a resource which contains commercially viable uranium ore”. DYL can ultimately buy out each individual uranium resource, by additional payments to Matrix of 15% of the in ground value of each individual specific uranium resource times Matrix’s then holding in the NWQJV (nominally a minimum of 20% or maximum of 49% of the NWQJV). These payments cannot reduce Matrix’s joint venture position in the greater NWQJV, its then position continues for the greater joint venture.
End of announcement.
Yours Faithfully
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Shane McBride Managing Director
1131 Hay Street, West Perth, W.A. 6005 PO Box 1036 West Perth, W.A. 6872 Tel: (08) 9486 7100 Fax: (08) 9486 7300. Website: www.matrixmetals.com.au Email: [email protected]