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GOLDARC RESOURCES LIMITED — Capital/Financing Update 2004
Jan 15, 2004
64961_rns_2004-01-15_6451438e-b7fb-4730-834d-ad97891001ae.pdf
Capital/Financing Update
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Cluff Resources Pacific NL
ABN 72 002 261 565
16th January, 2003
The Manager (Companies), Australian Stock Exchange, Sydney.
Dear Sir,
RESULTS OF OPTIONS CONVERSION
The Company wishes to advise that it has received a total of \$1,045,672 with respect to the exercising of its December 31, 2003 options (CFRO), representing a total of 26,141,800 options converted into ordinary shares (CFR). These shares have now been allotted.
The options exercising has been underwritten up to the value of \$2 million, leaving an amount of \$954,328 to be paid by the underwriters.
The \$2 million raised will be used by Cluff to maintain its momentum towards establishing viable mining operations and thereby achieving a positive cash flow.
For further information please contact:
| Scott Enderby on | Phone (02) 9482 4655 |
|---|---|
| Fax (02) 9482 4987 | |
| Email [email protected] |
Yours faithfully,
Scott Enderby Company Secretary
Registered Office 1/30 Leighton Place Hornsby NSW 2077 Australia
Postal Address Locked Bag 3355 Hornsby NSW 2077 Australia
Tele-Communications Tel (612)9482 4655 Fax (612) 9482 4987 Internet www.cluff.com.au