| Wed 28 Nov 2007, 11:05 | | CAN - GVM Metals Limited - Placement of shares |
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GVM
GVGVM
CAN - GVM Metals Limited - Placement of shares
GVM Metals Limited
(previously, "Golden Valley Mines Limited")
(Incorporated and registered in Australia)
(Registration number ACN 008 905 388)
Share code on the JSE Limited: GVM
ISIN: AU000000GVM1
Share code on the Australian Stock Exchange Limited: GVM
ISIN: AU000000GVM1
("GVM" or `the Company")
Placement of shares
GVM Metals Limited (`GVM` or the `Company`) is pleased to announce that it has
today completed a placement of 15,000,000 shares ("Placement"). The shares
were issued at an issue price of $1.50 each, to raise $22,500,000, before
costs.
The Placement was made under s708 of the Corporations Act to predominantly
sophisticated retail investor clients at Euroz Securities Limited.
The funds raised from the issues will be applied towards the cost of
developing the Company`s Mooiplaats and Baobab coal projects, exploration and
general working capital.
The Placement follows approvals of a resolution at the Company`s Annual
General Meeting in Perth today providing the required capacity for the
Placement in accordance with Listing Rule 7.1 and the announcement of the
placement of 65 million shares at 65 pence primarily to European institutions
to raise GBP42.25 million.
Simon Farrell, Managing Director, commented: "We are very pleased that
following the successful placement to London institutions, Euroz, Perth`s
leading institutional broker, has lent its support to our goal of becoming a
significant coal producer in South Africa."
Simon Farrell
Managing Director
For more information contact:
Simon Farrell, Managing Director: GVM +61 417 985 383
+61 8 9322 6776
Romil Patel Blue Oar Securities Plc: 44(0) 20 7448 4400
Jos Simson/Arabella Hobbs Conduit PR: +44(0) 20 7429 6606
www.gvm.com.au
28 November 2007
South African Sponsor to GVM
PricewaterhouseCoopers Corporate Finance (Pty) Ltd
Date: 28/11/2007 11:05:01 Produced by the JSE SENS Department.
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