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MGX RESOURCES LIMITED Capital/Financing Update 2005
65331_rns_2005-03-23_b0f39c6d-b0e9-4f9b-be7b-30e1a1ab9d2e.pdf
Capital/Financing Update
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Mount Gibson Iron Limited ABN 87 008 670 817
First Floor, 7 Havelock Street West Perth 6005, Western Australia
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
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23 March 2005
The Manager Company Announcements Australian Stock Exchange Limited Level 10, 20 Bond Street SYDNEY NSW 2000
SUBJECT: MOUNT GIBSON IRON ANNOUNCES PLACEMENT TO RAISE \$17 MILLION
Mount Gibson Iron Limited (ASX Code "MGX") advises that it has placed 20 million ordinary shares at an issue price of 85 cents each to a group of sophisticated/professional investors and institutional clients of SHAW Stockbroking to raise \$17.0 million before costs and expenses.
The shares will be issued on Friday, 1 April 2005 and application for the listing of those shares on the Australian Stock Exchange will occur by Tuesday, 5 April 2005. The issue of these shares will not require shareholder approval as they are within the 15% limit allowed under ASX Listing Rule 7.1.
Proceeds of the placement will primarily be utilised to progress the Company's involvement in the Asia Iron pellet project in Nanjing, China.
Yours sincerely, MOUNT GIBSON IRON LIMITED
John Arbuckle Company Secretary
Enquiries: Mr Brian Johnson Managing Director Telephone: 61 8 9485 2355 Email: [email protected]