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GWR GROUP LIMITED Capital/Financing Update 2007
65031_rns_2007-05-24_80badbe2-00c3-4892-9a88-775722e0567a.pdf
Capital/Financing Update
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25 May 2007
| Corporate Summary | |
|---|---|
| ASX Code: | - GWR |
| Issued Capital: | 63 Mil |
| Issued Options: 39 Mil | |
| Market Cap fully diluted | |
| May 07: | SA194 Mil |
| Contact Details 6/136 Main Street |
|
| OSBORNE PARK | |
| Western Australia 6017 | |
| Tel: +61 8 92019202 |
|
| $+61892019203$ Fax. |
|
| [email protected] | |
| www.goldenwestresources.com | |
| Enquiries: | |
| Gary Hutchinson | |
| Managing Director | |
| Mick Wilson | |
| Exploration Manager / Director | |
\$5.14 MILLION PLACEMENT TO FUND WILUNA IRON ORE PROJECT
Golden West Resources Limited (ASX:GWR) is pleased to confirm that it has placed 2,855,556 ordinary fully paid shares and 2,855,556 options to raise \$5,140,000.
The placement was achieved at a price of \$1.80 per share with a one for one free attaching unlisted option exercisable at \$2.00 on or before 31 December 2010.
The funds will be used to expedite the drilling program at Wiluna West Iron Ore Project where three RC drilling rigs are currently in operation on site, with the aim to increase the already announced inferred mineral resource of 50 million tonnes at 51% Fe, as soon as possible.
All the necessary documentation will be lodged immediately following finalisation.