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SULTAN RESOURCES LTD — Capital/Financing Update 2018
Aug 13, 2018
65816_rns_2018-08-13_33888ea9-6f15-4f04-9a22-260d6a77ad99.pdf
Capital/Financing Update
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ASX:SLZ ACN: 623 652 522
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Suite 2, 1 Altona Street West Perth, WA 6005 T: +61 (8) 6559 1792
ASX ANNOUNCEMENT
Updated Statement of Commitments (Based on Actual Funds Raised $4.8M)
| Actual Subscription ($4.8m) | Actual Subscription ($4.8m) | |
|---|---|---|
| Funds available | ||
| Year 1 | Year 2 | |
| Cash reserve1 | $300,251 | |
| Funds raised from the Offer | $4,800,000 | |
| Total | $5,100,251 | |
| Allocation of funds | ||
| Expenses of the Offer2 | $196,832 | |
| Lead Managers Fee | $438,000 | |
| Exploration expenditure on the Thaduna, | ||
| Dalwallinu and East Tallering Projects | $1,080,000 | $1,209,000 |
| (Granted Tenements)3 | ||
| Exploration expenditure on the Lake GraceProjects(Tenements in Application) | $320,000 | $355,000 |
| Tenement Maintenance Costs | $10,600 | $10,600 |
| Administration Costs4 | $425,346 | $563,320 |
| Working capital | $191,000 | $300,553 |
| Total | $2,661,778 | $2,438,473 |
1 Refer to the Investigating Accountant’s Report set out in Section 8 of the Prospectus for further details of the Company’s financial information.
2 Refer to Section 11.7 of the Prospectus for further details of the expenses of the Offer.
3 Refer to Section 4.5 and the Independent Geologist’s Report in Section 6 for further information on the Company’s exploration program.
4 Administration Costs are comprised of director and management fees and other general costs associated with the management and administration of the Company.