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ST GEORGE MINING LIMITED — Capital/Financing Update 2013
Apr 29, 2013
65782_rns_2013-04-29_5de95daa-c229-427d-a9f6-47499eb50b62.pdf
Capital/Financing Update
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ASX / MEDIA RELEASE
30 April 2013
ST GEORGE RAISES FUNDS FOR EXTENDED DRILLI AT CAMBRIDGE NICKEL PROJECT
HIGHLIGHTS:
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$800,000 in support from sophisticated investors
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Funding secured for extension of drilling programme at Cambridge
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Targeted drilling campaign underway
St George Mining Limited (ASX: SGQ ) (‘St George Mining’ or ‘the Company’) is pleas e d to confirm that it has completed a placement to sophisticated investors to raise a total of $800,000 in capital through the issue of 5,000,000 shares at $0.16 each.
The placement was over-subscribed but was limited to the target amount of $800 , 000.
The funds raised will be applied to w ards the Company’s 2013 drilling programme w hich is focused on the Cambridge Nickel Project at its 100% owned East Laverton Property in the North Eastern Goldfields region of Western Australia. The drilling campaign commenced on 23 April 2013.
John Prineas, Executive Chairman of St George Mining , said:
“We are very pleased with the strong support we received from sophisti c ated investors in this oversubscribed placement. Import a ntly, the additional funds allow us to maintai n the strong momentum of our exploration programme at our high profile Cambridge Nickel Project.
“Exploration completed in 2012 c o nfirmed the nickel sulphide prospectivity at C ambridge. In 2013, we are aiming to build on this success by drill testing new high priority nickel sulphid e targets.”
The shares were placed pursuant to Section 708 of the Corporations Act 200 1 (“the Act”). All of the shares issued under the placem e nt will rank pari passu with existing ordinary shares. Shareholder approval is not required for the pl a cement as the number of shares issued does n o t exceed the threshold provided in ASX Listing Rule 7.1.
Following allotment of the shares under the placement, St George Mining will h a ve 71,981,000 ordinary shares on issue.
For further information, please contact:
John Prineas Colin Hay Executive Chairman Professional Public Relations St George Mining Limited (+61) 08 9388 0944 mob 04 0 4 683 355 (+61) 411 421 253 [email protected] [email protected]
St George Mining Limited ACN 139 3 08 973 Level 1, 115 Cambridge Street, PO Box 1305, West Leederville WA 6007 Phone + 61 8 9322 6600 Facsimile + 61 8 9322 6610
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