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PEEL MINING LIMITED — Capital/Financing Update 2012
May 13, 2012
65545_rns_2012-05-13_fc737db5-4988-4ce2-9ee2-0dc6ff1e9d7d.pdf
Capital/Financing Update
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Suite 9, 5 Centro Ave, Subiaco WA 6008 P.O. Box 457, West Perth, WA 6872, Australia Ph+61 8 9286 3045 Fax: +61 8 9226 2027 [email protected] ABN 11 113 931 105
14 May 2012
The Company Announcements Office Australian Securities Exchange Limited
DIVESTMENT OF NON-CORE ASSETS
Birimian Gold Limited (ASX:BGS; “Birimian”, “Company”) advises that it has finalised the divestment of two non-core assets.
The Company has sold a portion of its shareholding in Aphrodite Gold (ASX:AQQ). Net proceeds from the sale were $0.3 million. The Company continues to hold 6,925,000 shares in AQQ that are in escrow until July 2012.
In addition, the Company has divested the Apollo Hill Mining Lease (M39/296), situated in the Eastern Goldfields of Western Australia, to Peel Mining Ltd (ASX:PEX). Peel Mining Ltd has issued 750,000 shares to Birimian as consideration.
Yours sincerely
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Kevin Joyce Managing Director