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IONIC RARE EARTHS LIMITED — Capital/Financing Update 2012
Jan 12, 2012
65151_rns_2012-01-12_895b5b92-8143-45e9-ba3f-47e0c9d6883b.pdf
Capital/Financing Update
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13 January 2012
CORPORATE AND OPERATIONAL UPDATE
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ASX Conditional Listing Approval
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Completion of Chuminga and Vega Acquisitions
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Chuminga and Vega Drilling Programmes
Oro Verde Limited (ASX:OVL) (formerly Ezenet Limited) (“the Company”) is pleased to provide shareholders with the following update on its corporate and operational activities.
ASX Conditional Listing Approval
The Company has received confirmation from ASX that it intends to reinstate the securities of the Company to official quotation following the provision of certain outstanding information.
The Company is currently in the process of satisfying the requirements of the ASX to achieve the re-listing of the Company as soon as possible.
Shares in respect of funds raised (approximately $2.396m) during the recent capital raising have been allotted and holding statements distributed to shareholders.
Completion of Chuminga and Vega Acquisitions
In Chile, settlement of the acquisition of a 20% interest in the Chuminga project and a 100% interest in the Vega Project has been finalized and the Company is waiting on confirmation of the official registration of its interests in both projects.
Chuminga and Vega Drilling Programmes
At the Chuminga (Copper/Gold) Project in Northern Chile, the Company has completed the access road to the drilling site and has constructed drilling pads to enable drilling to commence shortly.
Utilising a drilling rig provided by the Errazuriz Hochschild Mining Group, the Company will undertake a first phase 10 hole/1,950 metre diamond drilling programme at Chuminga.
Drilling at the Vega Gold Project, located in the highly prospective El Indio Gold Belt, is scheduled to commence in early February 2012 where a 8 hole /2,350 metre drilling programme will test identified CSMAT geophysical drill targets in part coincident with anomalous lithogeochemistry, alteration and structure.
ENDS
For enquiries contact:
Brett Dickson or John Traicos Company Secretary General Manager 61 8 9481 2555 0417 885 279
Oro Verde Limited (ABN 84 083 646 477) Level 1, 30 Richardson Street, West Perth, WA 6005 PO Box 493, West Perth, WA 6872 Telephone: + 61 8 9481 2555