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RED MOUNTAIN MINING LIMITED — Capital/Financing Update 2012
Dec 12, 2012
65719_rns_2012-12-12_b8dcc818-04a8-4fad-aa2e-e7c38eff2faa.pdf
Capital/Financing Update
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13 December 2012
ASX ANNOUNCEMENT
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RED MOUNTAIN RAISES $1 MILLION
Red Mountain Mining Limited (“Red Mountain” or “the Company”) is pleased to announce it has received a positive response to a proposed capital raising, with firm commitments received to raise $1 million (after costs) via a placement of 8.512 million fully paid ordinary shares. The shares will be issued at an issue price of $0.125 each and the Placement will be made under s708 of the Corporations Act to sophisticated investors, pursuant to shareholder pre-approval at the Company’s recent Annual General Meeting held on 27 November 2012.
The funds raised from the Placement will be applied by the Company towards accelerating it’s search for high grade gold shoots using channel sampling and drilling at Lobo.
Cygnet Capital Pty Ltd was engaged as lead manager to the Placement. The cash fee for the capital raising will be calculated at 6% of all capital raised under the Placement.
An Appendix 3B will follow in due course.
For and on behalf of the Board
Shannon Coates Company Secretary
__________________________________________________________________________________________________ For further information about Red Mountain Mining please visit www.redmm.com.au or contact: Company Investors Media Neil Warburton Kevin Skinner Executive Chairman Field Public Relations (+61) 408935014 (+61) 4014822631 (+61 8) 9226 5668 (+61)8 82349555
About Red Mountain Mining Limited
Red Mountain Mining (ASX: RMX) is primarily a gold explorer and project acquisition company incorporated in Australia in May 2006 and which listed on the ASX in September 2011. The Company’s strategy is to unlock the potential of ‘under-developed’ gold and polymetallic projects in the greater Asian region by introducing Australian mining methods and improving efficiencies to gain significant production and exploration upside.
The Company completed the acquisition of significant gold resources and copper gold tenements in the Philippines on 30 October 2012.
Other gold opportunities will be reviewed on a continuous basis following the successful completion of the Philippines acquisition.
COMPANY DIRECTORS Neil Warburton Executive Chairman & Acting CEO Keith Rowe Executive Director Jon Dugdale Executive Director
Michael Wolley Non-Executive Director Shannon Coates Company Secretary
CONTACT DETAILS RED MOUNTAIN MINING LTD Head Office Unit 1, 2 Richardson Street West Perth Western Australia 6005
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ASX code: RMX ABN 40 119568106