ASX Announcement
2 September 2016
Navarre Minerals Limited
ABN 66 125 140 105 ASX Code: NML
Corporate Details
Issued capital:
108.1M ordinary shares 5.76M unlisted options
Directors & Management:
Kevin Wilson
(Non-Executive Chairman)
Geoff McDermott (Managing Director)
John Dorward
(Non-Executive Director)
Colin Naylor
(Non-Executive Director)
Jane Nosworthy (Company Secretary)
Contact Details
Geoff McDermott Managing Director
Navarre Minerals Limited 40 - 44 Wimmera Street
Stawell VIC 3380 Australia
PO Box 385
Stawell VIC 3380 Australia
Tel: +61 (0)3 5358 8625
Email: [email protected] Website: www.navarre.com.au
Entitlement Offer Opens Today
Prospectus for 2-for-5 entitlement offer despatched
Navarre Minerals Limited (the Company) (ASX Code: NML) is pleased to advise that it has today despatched its Entitlement Issue Prospectus and accompanying personalised Entitlement and Acceptance Forms to eligible shareholders.
Eligible shareholders have the opportunity to acquire two (2) new fully paid ordinary shares in the Company (New Shares) for every five (5) existing shares held by shareholders on the Record Date at an issue price of $0.029 per New Share. For every two (2) New Shares issued under the entitlement offer, participating shareholders will also be entitled to receive one (1) free attaching unlisted option with an exercise price of $0.05 and expiring on 31 March 2018.
Funds raised from the entitlement offer will be used to fast-track exploration at the Irvine and Benno gold prospects near Stawell by matching a co-funding grant awarded to the Company by the Victorian Government under the TARGET Minerals Exploration Initiative (refer to the Prospectus dated 25 August 2016 for details).
As a reminder, key dates* for the entitlement offer are set out below:
|
Event
|
Date
|
|
Lodgement of prospectus with ASIC & ASX
|
25 August 2016
|
|
Notice sent to shareholders
|
29 August 2016
|
|
Shares commence trading ex-Entitlement
|
30 August 2016
|
|
Record Date for determining Entitlements to subscribe for New Shares
|
31 August 2016 (7.00pm AEST)
|
|
Prospectus despatched to shareholders & Company announces
despatch has been completed
|
2 September 2016
|
|
Opening Date
|
2 September 2016
|
|
Closing Date
|
16 September 2016
|
|
New Shares quoted on a deferred settlement basis
|
19 September 2016
|
|
ASX notified of under-subscriptions (if any)
|
20 September 2016
|
|
Allotment of New Shares & despatch of holding statements
|
23 September 2016
|
|
Normal trading of New Shares on ASX expected to commence
|
26 September 2016
|
* Dates are indicative only and the Company reserves the right, subject to the Corporations Act and the Listing Rules, to vary each of these dates without advance notification to Eligible Shareholders. Any alteration to these dates will be notified to the ASX.
Shareholders can contact the Company on +61 3 5358 8625 or their stockbroker or professional adviser with any questions about the entitlement offer.
- ENDS -
Navarre Minerals Limited | ABN 66 125 140 105
40 - 44 Wimmera Street | PO Box 385 | Stawell VIC 3380 Australia t +61 3 5358 8625
e [email protected] | w navarre.com.au
N a v a r r e M i n e r a l s L i m i t e d A S X A n n o u n c e m e n t P a g e | 2
For further information, please visit www.navarre.com.au or contact:
Geoff McDermott Managing Director
E: [email protected] T: +61 (0)3 5358 8625
About Navarre Minerals Limited:
Navarre Minerals Limited (ASX: NML) is an Australian-based resources company that is creating value from a portfolio of early to advanced stage gold and copper projects in Victoria, Australia.
Navarre is searching for gold deposits in the partially covered extension of a corridor of rocks that host the Stawell (~5 million ounce) and Ararat (~1 million ounce) goldfields. The discovery of outcropping gold at the Irvine and Benno prospects is a prime focus for the Company in 2016. These are located 15km south of the operating Stawell Gold Mine which is owned by Navarre's largest shareholder and leading Victorian gold producer, Newmarket Gold Inc.
The Company is also targeting large VMS, porphyry-copper and gold deposits. The Western Victoria Copper Project captures multiple, largely untested targets in 130km of western Victoria's newly uncovered Stavely Arc volcanics.
At the high-grade Tandarra prospect within the North Bendigo Goldfield of central Victoria, exploration work is targeting the next generation of gold deposits under shallow cover 40kms north of the 22 million ounce Bendigo Goldfield. Under a farm-out agreement, Catalyst Metals Limited is earning a 51% equity interest in Tandarra by spending $3 million over four years by advancing the project towards mineral resource status.
Navarre Minerals Limited | ABN 66 125 140 105
40 - 44 Wimmera Street | PO Box 385 | Stawell VIC 3380 Australia t +61 3 5358 8625
e [email protected] | w navarre.com.au