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FOCUS MINERALS LTD — Capital/Financing Update 2021
Dec 19, 2021
64932_rns_2021-12-19_4495550d-602a-4094-914b-80fd379be9bf.pdf
Capital/Financing Update
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20 December 2021
UPDATE ON NON-RENOUNCEABLE ENTITLEMENT OFFER
West Australian gold explorer Focus Minerals Limited ( ASX: FML ) ( Focus or the Company ) refers to the Company's announcement on 3 December 2021 in relation to its 1-for-1 non-renounceable entitlement offer of new Focus shares ( New Shares ) at an issue price of A$0.25 per New Share to raise up to A$45,687,141.25 ( Entitlement Offer ).
Closing date of the Entitlement Offer
Focus has determined that it will not extend the offer period for the Entitlement Offer. Accordingly, Focus confirms that the offer period for the Entitlement Offer will close at 5pm (Perth time) on Thursday, 23 December 2021 . For all eligible shareholders who wish to participate in the Entitlement Offer, payments for acceptance of your entitlement and/or the top-up offer must be received by 5pm (Perth time) on Thursday, 23 December 2021 .
The release of this ASX announcement was authorised by The Board of Focus Minerals Ltd.
For further information For media and investor enquiries please contact: please contact: Nicholas Ong Peter Klinger Company Secretary Director, Investor Relations Focus Minerals Ltd. Cannings Purple Phone: +61 8 9215 7888 Phone: +61 411 251 540 Email: [email protected] Email: [email protected]
About Focus Minerals Limited (ASX: FML)
Focus Minerals is a Perth-based, ASX-listed gold exploration company focused on delivering shareholder value from its 100%-owned Coolgardie Gold Project and Laverton Gold Project, in Western Australia’s Goldfields.
Focus is committed to delivering shareholder value from the Coolgardie Gold Project, a 138km[2] tenement holding that includes the 1.4Mtpa processing plant at Three Mile Hill (on care and maintenance), by continuing exploration and value-enhancing activities. An updated PFS in September 2020 highlighted the potential for a low capital cost, fast-tracked return to mining at Coolgardie and delivered an NPV7.5% of $183 million. The Company’s efforts are now focused on increasing production-ready Mineral Resources at Coolgardie and delivering the approvals and permits required for a resumption of gold-mining operations.
The Laverton Gold Project covers 362km[2] area of highly prospective ground that includes the historic Lancefield and Chatterbox Trend mines. Focus’ priority target is to confirm sufficient gold mineralisation at the Beasley Shear Zone, Lancefield-Wedge Thrust, Karridale and Burtville to support a Stage 1 production restart at Laverton. In parallel, Focus is working to advance key Laverton resource growth targets including Sickle, Ida-H and Burtville South. Focus has delivered first results from a progressive Pre-Feasibility Study (Pre-Tax NPV5.0% A $132M) and is advancing study work utilising Laverton’s expanded Mineral Resource position.
Focus Minerals Limited ACN 005 470 799 | ABN 56 005 470 799 | ASX: FML Level 2, 159 Adelaide Terrace, East Perth WA 6004 | PO Box 3233, East Perth WA 6892 T +61 (0) 8 9215 7888 | F +61 (0) 8 9215 7889 | E [email protected] | W focusminerals.com.au
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ASX Listing Rule 5.19.2
Focus confirms that all material assumptions underpinning the production target or the forecast financial information derived from the Coolgardie 2020 PFS announced in September 2020 continue to apply and have not materially changed.
Focus Minerals Limited ACN 005 470 799 | ABN 56 005 470 799 | ASX: FML Level 2, 159 Adelaide Terrace, East Perth WA 6004 | PO Box 3233, East Perth WA 6892 T +61 (0) 8 9215 7888 | F +61 (0) 8 9215 7889 | E [email protected] | W focusminerals.com.au
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