ASX Announcement
13 August 2015
$271,794 Capital Realisation
Discovery Africa Limited (ASX: DAF) ("the Company") is an Australian based mineral exploration company focused on the exploration and development of the Nachingwea Graphite Project in Tanzania.
The Company has recently reviewed its investment portfolio of ASX-listed shareholdings, and in order to improve its current cash position, is pleased to advise that it has made a total capital realisation of $271,794 (less brokerage fees) via the recent sale of its investment holding in Argosy Minerals Limited and Horseshoe Metals Limited.
The Company sold 111,713,689 Argosy Minerals Ltd shares to a number of unrelated parties via off-market transactions, for a total cash consideration of $251,355.
In addition, the Company has sold 450,000 shares in Horseshoe Metals Ltd, via on- market transactions, for a total cash consideration of $20,439 (less brokerage fees).
The Board of Discovery Africa is extremely pleased to have monetized these investments to increase its overall value proposition and ensure it is best placed to deliver value and upside potential for all its shareholders. The Company will consider the best use of these funds and apply them accordingly.
ENDS For further information:
Peter Lloyd, Director Jerko Zuvela, Director T | +61 8 9226 4500
Discovery Africa Limited
ACN 147 324 847 ABN 50 147 324 847
Level 1, 12 Kings Park Road, W est Perth, W A 6005
PO Box 44, W est Perth, W A 6872
Ph: (08) 9226 4500 Fx: (08) 9226 4300
W ebsite www.discoveryafrica.com.au