| Mon 29 Mar 2010, 17:16 | | FSE - Firestone Energy Limited - Firestone To Seek Cornerstone Investor |
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FSE
FSE
FSE - Firestone Energy Limited - Firestone To Seek Cornerstone Investor
FIRESTONE ENERGY LIMITED
(formerly Centralian Minerals Limited)
(Registration number: ABN 058 436 794)
(SA company registration number: 200/023973/10
Share code on the JSE: FSE
Share code on the ASX: FSE
ISIN: AU000000FSE6
("FSE" or "the Company")
FIRESTONE TO SEEK CORNERSTONE INVESTOR
Firestone Energy Limited (ASX: FSE) is pleased to announce that it has
appointed BBY Limited as its corporate advisor to help advise and manage
the process of introducing a successful cornerstone investor to the
company.
The appointment follows the recent achievement of several important
milestones for Firestone including the SAMREC upgrade of the Waterberg
coalfield to 1.723 billion tonnes Coal in SITU and the positive results
from the pre-feasibility study completed for the Smitspan property.
John Wallington, Firestone`s Managing Director said "We are very pleased to
have appointed BBY as Firestone`s corporate advisor, to assist the company
in identifying and successfully introducing a cornerstone investor to
Firestone."
"Having already received strong interest from a number of very large
international groups and with the coal sector going from strength to
strength, Firestone believes that the best mechanism for increasing
shareholder value at this stage would be via a competitive process to
attract and secure an appropriate partner to develop its substantial
Waterberg projects," he said.
BBY is an Australian focused stock broking, corporate advisory and asset
management firm with offices in Sydney, Melbourne, UK and UAE along with a
global presence in the USA and Asia. BBY combines the strength of an
international partnership with leading Asian investment bank CIMB-GK,
(www.cimb.com), and an equity partnership with major US investment bank,
Jefferies Inc (www.jefferies.com).
BBY Limited has a strong track record of securing funding and cornerstone
investors for Australian and international resource companies.
For further information please contact
David Smith Amanda Matthee
Head, Equity Capital Markets CFO
BBY Limited Firestone Energy Limited
Tel: +61292260112 T: +27011706 3548
Pretoria
29 March 2010
Corporate Adviser and Sponsor
River Group
Date: 29/03/2010 17:16:01 Produced by the JSE SENS Department.
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