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Midas Resources Announces Share Purchase Plan
Midas Resources (ASX: MDS) is pleased to announce the commencement of a Share Purchase Plan (SPP) underwritten by Patersons Securities for A$1 million. The SPP entitles all shareholders registered as at
5:00pm (AWST) on Monday 3 September 2007 with an Australian address to subscribe for additional fully paid ordinary shares in the Company, without brokerage or other transaction costs.
Money raised under this SPP will be used to fund a drilling programme at the Company’s Bindah Prospect at Lake Carey, as announced to the market on 20 August 2007. The programme is looking for high-grade
orebodies and the initial RC drilling undertaken by the Company, including a drill hole which contained 8m @ 10.5g/t Au, has confirmed the prospectivity of this area.
In addition to Bindah the Company is working up the Intrepid target at Lake Carey for drilling later in 2007 and evaluating drill targets at the Waitara copper-molybdenum prospect in Queensland.
All Directors intend to participate in the SPP for the maximum amount.
Midas shareholders who would like to participate in the SPP should read the Terms and Conditions attached and return the completed Application Form and appropriate application monies to Advanced Share
Registry by no later than 5pm on 21 September 2007.
Questions regarding the information contained in this announcement or associated documents should be directed to Managing Director Geoff Balfe on 08 9388 2211.
Full details are the attached ASX Announcement, including all documents relating to the SPP to be issued by Australian Post to shareholders of Midas Resources
this week. These documents will also include a standard application form.
Download the full ASX announcement by clicking here.
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Midas Resources
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EXPLORATION STAGE |
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CODE : MDS.AX |
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ISIN : AU000000MDS4 |
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Midas is based in Australia. Its main exploration property is LAKE CAREY in Australia. Midas is listed in Australia. Its market capitalisation is AU$ 975.6 millions as of today (US$ 917.2 millions, € 668.5 millions). Its stock quote reached its highest recent level on April 09, 2010 at AU$ 880.00, and its lowest recent point on April 11, 2014 at AU$ 0.00. Midas has 6 504 300 032 shares outstanding. |