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PATERSON RESOURCES LTD — M&A Activity 2013
Dec 1, 2013
65618_rns_2013-12-01_bb97c65f-ed34-462f-9d35-05e96b33507b.pdf
M&A Activity
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ASX ANNOUNCEMENT 2[nd] December 2013 FOR IMMEDIATE RELEASE
BURRAGA COPPER TAKEOVER COMPLETED SUCCESSFULLY
Elysium Resources Limited (“Elysium”) (ASX:EYM) is pleased to announce that its Takeover Offer for Burraga Copper Limited (“Burraga”) has closed successfully.
Acceptances were received for 99.8% of the Burraga ordinary shares and 100% of the Burraga options. This has resulted in the issue of 564,574,089 Elysium ordinary shares taking the total issued shares to 724,705,730. Elysium intends to proceed to compulsory acquisition of the remaining Burraga shares.
Following the successful transaction and the takeover of BCU, Elysium’s core business remains the exploration and development of copper and gold deposits in the rich mineral provinces of Australia and Indonesia.
With the transaction completed, the merged entity is now looking to accelerate programs at its key, near term production copper asset, the Lloyds Copper Mine project in NSW. The company has also initiated discussion with groups including industrial and end user investors for possible offtake or project level investment to fund future capital requirements.
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Mark Ohlsson Company Secretary
For media and investor enquiries please contact :
Fortbridge / Sydney Bill Kemmery Tel: +61 400 122 449 Email: [email protected]
Elysium Resources Limited
ABN 45 115 593 005 Suite 705, 3 Spring Street, Sydney NSW 2000 PO Box H238, Australia Square NSW 1215 Phone: +61 2 9247 7744 Fax: +61 2 9247 7244 Email: [email protected] Web: www.elysiumresources.com.au
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