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NORWOOD SYSTEMS LIMITED — Capital/Financing Update 2012
Oct 8, 2012
65434_rns_2012-10-08_e25e4185-86aa-4a95-a871-aa18550b475b.pdf
Capital/Financing Update
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ASX Release
COMPLETES GOLD EXPLORATION
9 October, 2012
PORTFOLIO ACQUISITION
MONTERAY MINING GROUP
Tel: +61 7 5538 2558 Fax: +61 7 5526 8922 [email protected] www.monteraymining.com.au
Contact:
KEVIN DART
Chairman [email protected]
JOHN HANNAFORD
Director [email protected]
STEVE COLE
Company Secretary [email protected]
Projects:
Burkina Faso
8 gold exploration permits covering 1,178 km[2] in three prospective areas of Burkina Faso.
Western Australia
5 gold tenements located predominantly in the Mt Monger region east of Kalgoorlie covering an area of 2,610 ha
Directors:
Kevin Dart - Chairman Sandy Barblett - Director John Hannaford – Director
Issued Capital:
34.5m Ordinary Shares * 18m Unlisted Options
* increases to 37.75m shares on completion of two acquisitions
ASX Code: MRY
Highlights
Burkina Faso gold projects:
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Completes acquisition of Vema Resources Pty Ltd, holder of three gold exploration permits in Western central Burkina Faso;
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Auger drilling to commence on Tigan permit within the month.
Monteray Mining Group Ltd (”Monteray” and or “the Company”) is pleased to announce that it has completed the acquisition of Vema Resources Pty Ltd (“Vema”). The acquisition ( as announced to ASX on 14 June 2011 ) includes 100% interests in three newly issued gold exploration permits, covering an area of 416km[2] proximal to SEMAFO Inc’s Mana gold mine in Central western Burkina Faso.
Monteray Director John Hannaford commented:
“Completion of this acquisition, Monteray’s first in Burkina Faso, allows the company to press ahead confidently with its exploration program. Following impressive MMI soil at the Tigan permit conducted by Monteray’s contractor in July 2012, an initial auger drilling program is planned once local farmers have completed harvesting their crops on the ground in October.”
Monteray is close to completing its second Burkina Faso gold project acquisition, within the coming week. The acquisition of Eburnean Resources SARL, holder of rights to 100% interests in five gold permits, will bring the total exploration portfolio to eight permits covering 1,179km[2] .
An Appendix 3B has been lodged today with ASX for the securities issued pursuant to the completion of the Vema acquisition.
Cash (30 June) - $1.9m
For and on behalf of Monteray Mining Group Ltd
| John HannafordDirector+61 8 9482 0501[email protected] | Kevin DartChairman+61 7 5538 2558 [email protected] |
|---|
About Monteray Mining Group Ltd
Monteray Mining Group Ltd was relisted on ASX in February 2011 following the acquisition of a portfolio of gold licences located in the goldfields region of Western Australia, and the raising of $3.5 million. On 7 September 2012 shareholders approved the acquisition of Vema Resources Pty Ltd and Eburnean Resources SARL, which collectively hold rights to 100% interests in eight newly granted gold exploration permits located in western & central Burkina Faso.
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Burkina Faso map showing the Company’s exploration permits in Central and Western Burkina Faso.
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Monteray’s WA project portfolio in the WA goldfields east of Kalgoorlie (in red) close to Integra Mining’s Majestic project area and Pioneer Resources “Juglah Dome” project.
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