Malachite Resources Limited is pleased to advise that its Share Purchase Plan (?SPP?) has closed raising $933,295.
The Company has allotted 16,969,006 shares which will be applied to SPP applicants? holdings today.
The Company?s Managing Director ? Dr. Garry Lowder said:
?Malachite greatly appreciates the very pleasing level of support shown by its shareholders in the current economic climate. The funds raised from this SPP will be applied in the coming months to:
i) Undertake reconnaissance drilling at our Standon tin discovery at Delungra;
ii) Conduct a limited drilling program at our Tooloom Gold Project;
iii) Advance our plans for mining tin at Elsmore; and
iv) Continue the process of finding a joint venture partner for Conrad?.
?The success of this SPP will allow the Company to resume its growth path and position itself to benefit from the recovery in commodity prices that has taken place in recent months?.
Regards
Andrew J. Cooke
Company Secretary
Malachite Resources Limited
Tel: +61 2 9411 6033
Fax: +61 2 9411 6066
Mob: 0412 090 826
Email: acooke@malachite.com.au
Website: www.malachite.com.au
Malachite Res. is a tin and lead exploration company based in Australia.
Malachite Res. holds various exploration projects in Australia.
Its main exploration properties are ELSMORE, MT LIDSTER, RIVERTREE, TOOLOOM, VOLGA, ABINGTON, CONRAD SILVER and DELUNGRA in Australia.