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GIBB RIVER DIAMONDS LIMITED — Capital/Financing Update 2015
Apr 9, 2015
64988_rns_2015-04-09_fd45fdc7-6e3e-4f3c-9253-2570b13063b2.pdf
Capital/Financing Update
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ASX RELEASE 10 April 2015 ASX Code: POZ
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Sale of Monument Mining Stock
Phosphate Australia Limited (ASX:POZ) has today entered into an agreement to sell the 10 million shares it own in Monument Mining Limited (MMY), a Canadian resource company listed on the TSX-V exchange. The sale is to a European financial group.
Completion is scheduled to be within the next three working days. POZ anticipates that the final realised price on the sale will be C$832,500 (Canadian dollars) or approximately A$857,000 at current exchange rates.
The Directors of Phosphate Australia believe this sale is an excellent outcome for the Company and represents a significant increase to the cash backing of POZ. It is the Director's intention for the cash be used to fund potential future acquisitions, exploration and general working capital.
Jim Richards BSc. (Hons) Geology, MAusIMM, MAIG Executive Chairman
Enquiries: Mr Jim Richards, Executive Chairman, 08 9422 9555
37 Colin Street T +61 8 9422 9555 West Perth WA 6005 F +61 8 9422 9599
E [email protected] W www.phosphateaustralia.com.au
Phosphate Australia Limited ABN 51 129 158 550