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RED MOUNTAIN MINING LIMITED — Capital/Financing Update 2013
Jun 24, 2013
65719_rns_2013-06-24_76420085-0fad-47ef-8721-66733042123b.pdf
Capital/Financing Update
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25 June 2013
ASX ANNOUNCEMENT
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NEW RIGHTS ISSUE SECURITIES LISTED
Red Mountain Mining Limited (ASX:RMX) (“ Red Mountain ” or “ the Company ”) is pleased to announce that it has today allotted 55,000,000 New Shares, 27,499,995 New Short-Dated Options (ASX:RMXO) and 13,749,991 New Long-Dated Options (ASX:RMXOA) pursuant to its recent pro rata renounceable rights issue.
The Rights Issue offered eligible shareholders the opportunity to purchase three New Shares for every two Red Mountain shares held on the record date at an issue price of $0.01 per New Share. For every two New Shares subscribed for under the Prospectus, shareholders received one free attaching “Short Dated” option with an exercise price of $0.015 and an expiry date of 30 June 2014 ( New Short-Dated Options ) and one free attaching “Long Dated” option with an exercise price of $0.03 and an expiry date of 30 June 2016 ( New Long-Dated Options ) for every four New Shares subscribed for under the Prospectus . Further, and in accordance with the Prospectus dated 16 May 2013 and Supplementary Prospectus dated 6 June 2013, 27,500,000 Underwriter Options were today issued to nominees of Patersons Securities Limited. Of the 27,500,000 Underwriter Options issued, 10,000,000 Underwriter Options were granted to Directors Neil Warburton and Keith Rowe (5,000,000 respectively), as approved by shareholders at the Company’s General Meeting on 24 June 2013.
____________________________________________________________________________________________________ For further information about Red Mountain please visit www.redmm.com.au or contact:
Company Investors Media Jon Dugdale Kevin Skinner Managing Director Field Public Relations (+61) 402 298026 (+61) 414 822631 (+61) 8 9226 5668 (+61)8 8234 9555
About Red Mountain Mining Limited
Red Mountain Mining (ASX: RMX) is primarily a gold explorer and project acquisition company which listed on the ASX in September 2011. The Company’s strategy is to unlock the potential of ‘underdeveloped’ 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 holds direct and indirect interests in tenements in the Philippines that contain significant gold resources and several high-quality copper-gold prospects. The Company has focussed on upgrading the Batangas resources through discovery of new, high grade, gold zones at Archangel, and Lobo (eg West Drift, Pica, Ulupong). The company will continue drilling with the objective of increasing the size and grade of JORC compliant Mineral Resources at Batangas then completing a scoping study to demonstrate the viability of a potential high-margin gold project development. The majority of the copper-gold prospects are available for joint venture.
Other gold opportunities will be reviewed on a continuous basis.
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ASX code: RMX COMPANY DIRECTORS CONTACT DETAILS ABN 40 119568106 Neil Warburton Michael Wolley RED MOUNTAIN MINING LTD Non-Executive Chairman Non-Executive Director Head Office Jon Dugdale Shannon Coates Unit 1, 2 Richardson Street Managing Director Company Secretary West Perth Western Australia 6005 Keith Rowe www.redmm.com.au Non-Executive Director [email protected]