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DREADNOUGHT RESOURCES LTD — Capital/Financing Update 2013
Sep 10, 2013
64785_rns_2013-09-10_6d6931d4-0d6c-4d24-bd1e-37235ea22e9b.pdf
Capital/Financing Update
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Australian Securities Exchange Announcement
11 September 2013
ASX Market Announcements Australian Securities Exchange 20 Bridge Street SYDNEY NSW 2000
Company Update & Rights Issue Reminder
Tychean Resources Ltd (formerly ERO Mining Ltd) (ASX: ERO) ( Tychean or Company ) is pleased to report that it has successfully completed an Aboriginal Heritage Survey on its 100% owned Valley Floor tenement in WA and is on target to commence the proposed drilling program in the final quarter of this year, subject to sufficient funds being raised from the rights issue. The Company intends to conduct an air core reconnaissance drilling program in the second half of this year to test the interpreted structures for gold mineralisation at the newly acquired Valley Floor Gold Prospect, 15km south of Kambalda.
The Company is also well underway with its initial review of the extensive database from the Spargoville Gold Project, further to the west of Valley Floor and containing the previously mined high grade 286,000 ounce Wattle Dam gold mine. This review will enable the Company to prioritise drill targets within the numerous gold occurrences that exist along the 30 kilometre strike length of the project area where the Company is looking to discover significant gold deposits similar to Wattle Dam.
Rights Issue Reminder
On 5 August 2013, the Company announced a non-renounceable rights issue to shareholders of two new shares for every three existing shares held together with one free attaching new option for every two new shares subscribed for, exercisable at $0.006 on or before 24 September 2014 ( Rights Issue ).
The Board has decided to not extend the closing date. Shareholders wishing to participate in the Rights Issue are reminded to lodge their Entitlement and Acceptance Form, together with payment, by the closing date of 5:00pm (ACST), MONDAY 16 SEPTEMBER 2013 .
Shareholders can also apply for entitlement and additional shares via BPAY (using the biller code and reference number on their Entitlement and Acceptance Form). If paying via BPAY, shareholders are not required to mail the Entitlement and Acceptance Form, however, payment must be received by no later than 5:00pm (ACST) on Monday, 16 September 2013.
Shareholders are encouraged to participate in the Rights Issue and share in the Company’s future.
Tychean Resources Limited ACN 119 031 864 | Level 3, 100 Pirie Street, Adelaide SA 5000 | Phone 61 8 7324 3195| Fax 61 8 8312 5576| Email [email protected] | web www.eromining.com
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The remaining timetable for the Rights Issue is as follows:
| Event | Date |
|---|---|
| Closingdate for acceptances | Monday16 September 2013 |
| Notification to ASX of under subscriptions | Thursday19 September 2013 |
| Issue date for New Securities issued under the Offer.Deferred settlement trading ends | Tuesday 24 September 2013 |
| Tradingof New Securities on ASX commences | Wednesday25 September 2013 |
| For further information please contact:Mr Joe HouldsworthManaging DirectorTychean Resources LtdM: 0487 924 326Mr Duncan GordonExecutive DirectorAdelaide Equity Partners LimitedM: 0404 006 444 |
Further information relating to Tychean Resources Ltd and its various exploration projects can be found at its website: www.eromining.com