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ST BARBARA LIMITED Capital/Financing Update 2006
65749_rns_2006-02-13_8ed7d01f-795c-4864-bb4d-8a70f9edd6ef.pdf
Capital/Financing Update
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Sale of South Laverton Assets
The Company has today completed the sale of its South Laverton assets to Saracen Mineral Holdings Limited ("Saracen") for value of A$18.4M [US$13.56M].
The consideration for the sale comprised:
| A$M | |
|---|---|
| Cash | 4.0 |
| Assumption of environmental bonds | 9.2 |
| Value of shares in Saracen @A$0.087 per share (last closing price and | |
| pre-consolidation) | 5.2 |
| 18.4 |
The number of Saracen shares issued to the Company is 59,551,590 (pre-consolidation), representing approximately 19.99% of Saracen's issued capital. The shares will be held in escrow for 12 months.
Eduard Eshuys Managing Director & CEO
14 February 2006