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DREADNOUGHT RESOURCES LTD — Capital/Financing Update 2010
Aug 25, 2010
64785_rns_2010-08-25_78b152e8-b694-4140-ba99-ddc3b5887476.pdf
Capital/Financing Update
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ASX Announcement
26 AUGUST 2010
The Manager Companies Announcements Office Australian Securities Exchange 20 Bridge Street SYDNEY NSW 2000
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M I N I N G
GEORGETOWN GOLD OPERATIONS - UPDATE
The Board of ERO Mining Limited wish to advise that the Company has decided to commit to the sale of its Georgetown Gold Operations (‘Georgetown’). As detailed in the June 2010 Quarterly Report the Company had been considering a number of alternative strategies with respect to Georgetown. Following a review of these options and the receipt of unsolicited expressions of interest in purchasing the operations, ERO Mining believes that the sale of the project is in the best interests of its shareholders.
Site inspections by interested purchasers are scheduled to commence in mid September 2010 and shareholders will be updated on the sale process following these visits. Adelaide Equity Partners will be managing the Georgetown sale process.
As a consequence of the decision to sell the Georgetown Gold Operations the planned exploration drilling program over the True Blue/Tunnels prospects will be suspended until the outcome of the sale process is clarified.
ERO Mining Limited ACN 119 031 864
62 Beulah Road Norwood South Australia 5067
PO Box 3126 Norwood South Australia 5067
Phone 61 8 8132 7970
Fax 61 8 8132 7999 Email [email protected] web www.eromining.com
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Kevin Lines Managing Director ERO Mining Limited 08 8132 7970
26th August 2010
Duncan Gordon Executive Director Adelaide Equity Partners 08 8232 8800 0404 006 444
Further information relating to ERO Mining Limited and its various exploration projects can be found on the ERO Mining website: www.eromining.com
ERO Mining Limited 1