ASX ANNOUNCEMENT
8 November, 2013
Western Desert Resources, a
WESTERN DESERT RESOURCES LIMITED COMPLETES SHARE PURCHASE PLAN
diversified reso
rces
business with a portfolio of quality mineral exploration assets in the Northern
NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES OR TO US PERSONS
Territory.
Western Desert Resources Limited (ABN 48
122 301 848) (ASX:
Western Desert Resources' vision
WDR) (the Company) is pleased to advise that it has raised $19.43
is to be the leading low-cost iron
million from
existing shareholders under the
share purchase plan
ore producer in Northern Australia
first announced to ASX on 20 September 2013 (SPP) and that it has
while generating wealth and
accepted all
applications which have complied with the terms and
prosperity for the p
ople of the
conditions of the SPP.
Roper and other regions where we
operate.
FAST FACTS
The SPP opened at 9.00am (Adelaide time) on Friday, 11 October
2013 and closed at 5.00pm (Adelaide time) on Monday, 4 November
2013.
ASX Code
Issued Shares
WDR
441m
The proceeds will be
used to replace funding previously to be
Market Cap
A$315M
provided by way of a revolving credit facility from Noble Resources
International Pte Ltd, and will be used to fund the development and
DIRECTORS
construction
of the Roper Bar iron ore project and
associated
Rick Allert
Norm Gardner
Chair an
MD
infrastructure, as well mining operations.
as provide
working
capital to
commence
Graham Bubner
Director
Philli
Lockyer
Director
The issue price for shares issued under the SPP is $0.65 per share.
Scott Perrin
Director
The issue price represented a discount of 12.75% to
the closing
price of shares of $0.745 on 18 September 2013. Under the SPP,
COM
ANY HIGHLI
HTS
29,893,094
new shares will be
issued to
participating eligible
Iron re
• Roper Bar & Mountain Creek projects (NT)
• Hematitic iron ore
shareholders.
Holding statements detailing the allocation of new shares under the
SPP are expected to be dispatched by no latter than 14 November
• Total Inferred, In
icated &
Measured Mineral Resource
2013 by the
Company's share registry, Computersha e Investor
estimates of 611Mt @ 40% Fe
Services Pty Limited, and normal trading of the shares issued under
including DSO grade of 47.4Mt
@ 57.3% Fe
the SPP is
expected
to commence on
12 November 2013.
• Low impurities
Application forms received from shareholders in relation to the SPP
• Mine development underway
were reviewed and,
in certain
limited
circumstances, some
• Proximity to coast and markets
applications were reject
d if they were non-compliant with the terms
and conditions of the
SPP. Accordingly, shareholders
who have
Gold / Copper
• East Rover Project near Tennant
participated
in the SPP
are advised to await receipt
of holding
Creek (NT)
statements prior to dealing in any shares applied for under the SPP.
CONTACT DETAILS
The Directors of WDR
are particularly pleas ed with th
response
Level 1, 26 Greenhill Rd
and show of
support of the Company by existing shareholders. In
WAYVILLE, SA, 5034
T: +61 8 8177 8800
[email protected]
the circumstances the Company has elected to accept subscriptions
over the initial $15 million in accordance with its right to do so under clause 12(a) of the SPP terms and conditions.
ABN: 48 122 301 848
About Western Desert Resources
Western Desert Resources is an ASX-listed iron ore development company focused on bringing its
100% independently owned flagship asset, the Roper Bar iron ore project into production by 4QCY13. Western Desert Resources aims to be the leading low-cost iron ore producer in Northern Australia. In addition to its flagship Roper Bar iron ore project, Western Desert Resources has a portfolio of quality assets including gold and base metal projects.
For more information contact: Laurie Ackroyd
Company Secretary T: + 61 8 8177 8800
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