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MINERAL COMMODITIES LTD — Capital/Financing Update 2011
Mar 3, 2011
65371_rns_2011-03-03_910e5ea7-a9cf-4c86-9ab2-d7279d568e17.pdf
Capital/Financing Update
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Mineral Commodities Ltd
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----- Start of picture text ----- ABN 39 008 478 653----- End of picture text -----
Suite 27 / 133 Kewdale Road Kewdale, Western Australia 6105 PO Box 235, Welshpool DC 6986 Telephone: 61 8 9353 4890 Facsimile: 61 8 9353 4894 Email: [email protected] Web: www.mncom.com.au
4 March 2011
Company Announcements Platform Australian Stock Exchange Limited
PLACEMENT OF SHARES
Mineral Commodities Limited (MRC) is pleased to announce that it has completed a placement of 10,000,000 ordinary shares at $0.12 per share to raise A$1,200,000.
The placement has been made to M&G Investment Management Limited, a large and well respected UK based Fund Manager. Following the placement, M&G will become a Substantial Shareholder holding approximately 6.5% of the total issued share capital in the Company.
The placement falls within the Company’s 15% placement capacity as set out in the Australian Stock Exchange (“ASX”) Listing Rule 7.1.
The funds will be used to further expedite the development on the Company’s Tormin mineral sands project, and will provide additional working capital to investigate other opportunities within the global resource sector.
The new ordinary shares will rank pari passu with the existing ordinary shares. Application will be made for the new ordinary shares to be admitted to trading on the ASX.
Yours faithfully
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Peter Torre Company Secretary
MINERAL COMMODITIES LIMITED