Media
Release: 15th May 2007
FINDERS RESOURCES ASX
PROSPECTUS OFFER OPENS
Highlights
o Australian prospectus Offer to raise A$4.5
million to A$6 million and list on the ASX has opened.
o Strong interest from investors and the Offer is expected to be closed
early
o Raising will be used to progress Finders' advanced copper and
silver-gold projects in Indonesia towards development
www.findersresources.com
Finders Resources Limited (Finders) is pleased to announce
that its Offer under an Australian prospectus to raise
between A$4.5 million and A$6 million at an issue price of A$0.55 and list on
the Australian Stock Exchange (ASX) opened yesterday.
A
copy of the prospectus is available at www.findersresources.com/fndprospectus.html.
Interest
to date from investors, including existing shareholders, has been strong and
the directors of Finders expect the Offer to be fully subscribed and closed
early.
Key statistics on the Offer are set out on
the following pages.
For
further information please contact:
Finders Resources Ltd:
Russell Fountain, Executive Chairman, +61 (0) 2
9211 8299
Chris Farmer, Managing Director,
cbf@findersresources.com
Financial
PR:
Doug Macdonald,
+61 (0) 424 255 959, Capital Group (in Australia)
Paddy Blewer or Nick Elwes, 020 7457
2020, College Hill (in the UK)
RFC Corporate Finance Ltd - Nomad and
Corporate Adviser:
Rob Adamson, +61 (0) 2 9250
0000 or Stuart Laing, + 61 (0) 8 9480 2500
Key Statistics
Issue price (per share) 55 cents for an offer of
8.2m shares to raise A$4.51 million with the right to
accept over-subscriptions up to A$6.05 million.
Indicative Timetable
|
|
Opening Date
|
14 May 2007
|
Closing Date (but likely to be
closed early)
|
5.00pm EST
7
June 2007
|
Despatch of Statements of
Shareholding
|
15 June 2007
|
Quotation of Shares on ASX
expected to commence
|
21 June 2007
|
|
|
Key Offer Statistics
|
Minimum Issue
|
Maximum Issue
|
Number of shares to be allotted
|
8.2 million
|
11.0 million
|
Amount to be raised
|
A$4.51 million
|
A$6.05 million
|
Number of fully paid shares on issue after completion of
the Offer
|
62.8 million
|
65.6 million
|
Number of options on issue after completion of the Offer
|
5.0 million
|
5.0 million
|
Finders is the operator of the Wetar Copper and Ojolali Gold-Silver Projects, both in Indonesia and holds an investment in Geopacific
Resources NL, an ASX-listed company.
Deliverables:
?
Final feasibility study for
Wetar by 2008
?
Upgraded Jambi gold resource and development plan and schedule,
third quarter 2007
?
Ultimate objectives
(subject to feasibility results and development funding) of gold production
from Ojolali in 2008, and copper production at Wetar in 2009
?
Expansion of resource base
through exploration success from multiple defined targets
?
Ongoing new project generation by highly experienced team
with successful track record