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Resolute Mining Limited — Capital/Financing Update 2008
Nov 10, 2008
10548_rns_2008-11-10_38e52ed3-2c1a-42a4-959e-ed3839080ff7.pdf
Capital/Financing Update
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ASX ANNOUNCEMENT
MARKET UPDATE: CAPITAL RAISING
Resolute Mining Limited (ASX: RSG) is pleased to provide a further update on the progress of its proposed capital raising.
As reported on 28 October 2008, Resolute continues to pursue an alternative to the proposed raising originally announced on 9 October 2008
This will involve a restructure and a re-pricing of the proposed capital raising. On this basis, Resolute will not be proceeding with the renounceable rights issue that had previously been announced. Resolute remains committed to offering existing shareholders the opportunity to participate in the raising.
Resolute continues to make good progress on the alternative capital raising, with strong support from a number of the Company’s largest shareholders, and will keep shareholders informed of developments as they occur.
The proceeds of the fund raising will be used to complete the re-development and ramp up of Syama and maintain the Company’s other development activities.
Gold production is imminent at Syama, where construction was 85% complete at the end of September.
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PETER SULLIVAN Chief Executive Officer 10 November 2008
RESOLUTE MINING LIMITED A.C.N. 097 088 689 A.B.N. 39 097 088 689 4[th] Floor, The BGC Centre, 28 The Esplanade, Perth, Western Australia 6000. PO Box 7232 Cloisters Square, Perth, Western Australia 6850. Telephone +61 8 9261 6100 Facsimile +61 8 9322 7541 Email : [email protected]