METRO MINING LIMITED — M&A Activity 2014

Mar 26, 2014

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ASX release

27 March 2014

MetroCoal acquires RCF holding in Cape Alumina

As announced to the ASX on 18 March 2014, MetroCoal Limited (MetroCoal; ASX: MTE) has made an unconditional on-market cash offer to acquire all of Cape Alumina’s shares at a price of 0.6 cents per share.

Cape Alumina has been advised that MetroCoal has acquired Resource Capital Fund III L.P.’s and Resource Capital Fund IV L.P.’s (together RCF) holding in Cape Alumina, increasing MetroCoal’s relevant interest in Cape Alumina from 6.87% to 46.04%.

Mr Graeme Sherlock, Managing Director of Cape Alumina, thanked RCF for being a very supportive shareholder of the company over a number of years and said that he was disappointed that RCF had taken the decision to sell its interest, but respected their decision. RCF has flagged its disappointment with Queensland Government ban over mining on the Steve Irwin Wildlife Reserve (SIWR) and the uncertainty that has created in respect of the company’s Pisolite Hills project as a key factor in RCF’s decision.

The Board of Cape Alumina Limited will lodge a target’s statement in due course, which will set out the Board’s recommendation to shareholders and the reasons for that recommendation. In the meantime, the Board recommends that shareholders take no action,

More information:

Cape Alumina Limited +61 7 3009 8000

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