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ST BARBARA LIMITED — Capital/Financing Update 2006
Jan 31, 2006
65749_rns_2006-01-31_03963ee1-f2ff-406d-a3f4-e4282f98fa54.pdf
Capital/Financing Update
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ASX SHAREHOLDERS
REPORT
St Barbara Limited
Enquiries regarding this report may be directed to:
Eduard Eshuys Managing Director & CEO
St Barbara Limited ACN 009 165 066 Level 2, 16 Ord Street West Perth WA 6005 Telephone Company +61 8 9476 5555 Facsimile $-461894765500$ Email Service [email protected] www.stbarbara.com.au Website.
Sale of Meekatharra Assets
The Company has today completed the sale of its Meekatharra assets to Mercator Gold plc (Mercator) for value of AUD$21M [USD$15.8M].
The consideration for the sale comprised:
| ΑЪ | |
|---|---|
| Cash | 5M |
| Assumption of environmentalbonds | 3M |
| Value of shares in Mercator @UK 50p per share | 13M |
| 21 M |
The number of Mercator shares issued to the Company is 11,016,949. The shares will be held in escrow for 12 and represent approximately 24.4% months. of Mercator's fully diluted issued capital.
Eduard Eshuys Managing Director & CEO
31 January 2006