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POINTERRA LIMITED — Capital/Financing Update 2011
Aug 9, 2011
64255_rns_2011-08-09_418c26cc-4822-4f16-8cb9-65116f0082c2.pdf
Capital/Financing Update
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ASX:SOI
10 August 2011
Submit by fax or electronically
Company Announcements Office ASX Limited Exchange Plaza 2 The Esplanade Perth, WA. 6000
UPDATE ON TASINIFU MANGANESE PROJECT – WEST TIMOR
The Board has recently reviewed the latest available information on the Tasinifu Manganese Project in West Timor (the “Project”) in close consultation with consulting geologists based in Indonesia.
Whilst the results of the Company’s due diligence have been encouraging, higher than average exploration costs have been encountered due to the difficult terrain and consequent accessibility to the project site. Further the current state of financial markets has increased the cost of capital markedly and as such, in the best interests of shareholders, the Board has agreed to terminate the option over the Project.
The Company will continue to trial the Nutrimix technology and will investigate all potentially value adding opportunities and will advise shareholders should further opportunities arise.
Yours Sincerely,
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Guy T. Le Page, MAusIMM, FFIN Chairman
Soil Sub Technologies Limited ACN: 078 388 155 Postal Address: PO Box 154 Perth WA 6872 Contact Number: 08 9321 3277 Fax Number: 08 9321 8399