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PHOSCO LTD — Capital/Financing Update 2012
Jan 3, 2012
65559_rns_2012-01-03_d9f87c49-9a5a-4d35-91ba-f3e6ae8bcc1d.pdf
Capital/Financing Update
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Celamin Holdings N.L ACN 139 255 771 ABN 82 139 255 771 Suite 304, 22 St Kilda Road, St Kilda, VIC 3182 Phone: (03) 9692 7222 Fax: (03) 9529 8057 Email [email protected]
4 January 2012
CELAMIN NON-BROKERED PRIVATE PLACEMENT
Board of Directors
David Regan (Managing Director)
Melanie Leydin (Non-executive Director) Justin Mouchacca (Non-executive Director)
Celamin Holdings NL ("CNL") is pleased to announce a nonbrokered private placement in the Company. The Company will issue 4,666,669 fully paid ordinary shares in CNL at an issue price of A$0.15 per share, raising $700,000.35.
The proceeds from the placement have been received.
Company Secretary
Melanie Leydin
Securities on Issue:
CNL: 53,956,177 ordinary shares
- CNLO: 25,367,001 options expiring 31 March 2014
CNLCA: 15,471,296 partly paid shares
The funds will be used by CNL as working capital and by Celamin Limited (pursuant to the terms of its acquisition agreement) to continue with its phosphate work program in Tunisia during the period leading up to the completion of its acquisition by CNL in accordance with the announced schedule.
Managing Director, David Regan said "we are pleased that the acquisition of Celamin Limited by CNL is on schedule (see announcement 23 December 2011) and that Celamin Limited is able to continue to explore at its Cheketma and Bir El Afou projects to confirm the presence of more high quality phosphate during the period leading up to its acquisition by CNL and subsequent capital raising by CNL for ongoing programs."
For further details, please contact:
DAVID REGAN MANAGING DIRECTOR
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Celamin Holdings N.L ACN 139 255 771 ABN 82 139 255 771 Suite 304, 22 St Kilda Road, St Kilda, VIC 3182 Phone: (03) 9692 7222 Fax: (03) 9529 8057 Email [email protected]
About Celamin Holdings NL
Celamin Holdings NL (ASX Code CNL) is an ASX listed company focused on the exploration and development of resource projects in North Africa initially in Tunisia and Algeria.
Through Celamin Ltd (Celamin), the Company's immediate focus is the Bir El Afou Phosphate project held in partnership with local company Tunisian Mining Services SA (TMS). A pre feasibility study has now been completed at Bir El Afou and, following the study’s recommendation, further delineation work is ongoing.
Celamin also holds another Phosphate exploration permit in Tunisia with TMS (Chaketma). This project has larger target potential than Bir El Afou. The Chaketma project would use the same rail and port infrastructure as for the Bir El Afou project. The first results from channel sampling and drilling at Chaketma have been announced.
Celamin continues to step up work to carry out a due diligence drilling program for its farm-in to an Exploitation Permit at the Oued El Kabir precious and base metal project in Algeria.
Celamin has also acquired rights to several base metal tailings Projects in Tunisia with TMS and is the holder of three Exploration Permits with base metal (Pb/Zn) targets on a 50/50 basis with TMS.