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Metals X Limited — Capital/Financing Update 2008
Mar 13, 2008
10401_rns_2008-03-13_ff46986e-2497-41c2-baf6-9f81c2c53414.pdf
Capital/Financing Update
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PRESS RELEASE 14 March 2008
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Metals X Completes $59.4M Placement
Metals X advises that the placement announced on January 11, 2008 has been completed following shareholder approval being obtained for Tranche 2 of the placement.
The placement to raise $59.4 million has been completed in two tranches:
Tranche 1
A placement of 139 million shares at $0.30 per share to raise $41.7 million was completed on January 23, 2008. The shares were taken up in full by a subsidiary of APAC Resources Ltd (HKEX 1104).
Tranche 2
A placement of 59 million shares at $0.30 per share to raise $17.7 million was settled today with all these shares being placed to Metals X’s current major shareholder, Jinchuan Group Limited.
Metals X now has 1,178,485,380 fully paid ordinary shares on issue with the top 5 shareholders being:
| Jinchuan | 14.93% |
|---|---|
| APAC | 12.45% |
| JP Morgan | 8.03% |
| Sabatica P/L | 7.62% |
| Merrill Lynch Nom’s | 6.64% |
Metals X Limited is a diversified group exploring and developing minerals and metals in
Australia. It is Australia�s largest tin producer and holds a pipeline of assets from exploration to development, including the worldclass Wingellina Nickel Project and a strong portfolio of nickel production royalties.
Corporate Directory ASX Code: MLX
Level 3, 123 Adelaide Tce East Perth, WA 6004
GPO Box 2606 Perth, WA 6001
Phone:�+61 8 9220 5700 Fax:� +61 8 9220 5757
Email:� [email protected] Web:� www.metalsx.com.au
For more information about Metals X please visit our website at www.metalsx.com.au
Completion of the placement further strengthens Metals X’s financial position, as it now holds in excess of $75 million in cash reserves and has no borrowings. Metals X intends to apply these funds to general working capital including its Tasmanian Tin Strategy, Wingellina Nickel-Cobalt Project Feasibility Study and other exploration and development activities within the group.
Tin Renison Tin Project Mt Bischoff Tin Project Rentails Collingwood Tin Project
Nickel
Enquiries: �Peter Cook Managing Director
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