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MGX RESOURCES LIMITED Capital/Financing Update 2004
65331_rns_2004-10-11_922f8ee4-7f7b-488f-9c3d-546743e66ca3.pdf
Capital/Financing Update
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Mount Gibson Iron Limited
First Floor, 7 Havelock Street West Perth 6005, Western Australia
ARN 87 008 670 817
PO Box 55, West Perth, WA 6872
Telephone: 61-8-9485 2355 Facsimile: 61-8-9485 2305 E-mail: [email protected]
VIA: WWW.ASX.ONLINE.COM
12 October 2004
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The Manager Company Announcements Australian Stock Exchange Limited Level 10, 20 Bond Street SYDNEY NSW 2000
MOUNT GIBSON IRON LIMITED MAKES INDIRECT INVESTMENT IN ARGYLE SUBJECT: IRON DEPOSIT IN THE KIMBERLEY REGION OF WESTERN AUSTRALIA
Mount Gibson Iron Limited advises that it has taken up a placement of 100 million shares at \$0.005 each (\$500,000) in Resource Mining Corporation Limited ("RMC"), which proposes to develop the Argyle iron ore deposit in the Kimberley region of Western Australia, subject to the results of a planned drilling program.
The Company will also receive 100 million free options convertible to shares at \$0.002 each on or before 30 June 2006.
The shares issued to the Company represents approximately 4.9% of RMC's issued capital
Two of Mount Gibson Iron Limited's shareholders and iron ore customers. Sinom (Hong Kong) Limited and the Stemcor Group hold similar shareholding's in RMC.
Mount Gibson Iron Limited has advised RMC that it is prepared to provide technical and management support to the Argyle project if required.
Yours sincerely, MOUNT GIBSON IRON LIMITED
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Angela Dent Company Secretary
Mr Brian Johnson Enquiries: Managing Director Telephone: 08-9485-2355 E-mail: [email protected]