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Breakaway Resources

Publié le 23 septembre 2008

Announces A$2M Share Placement to Cornerstone Investor

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Breakaway Resources Limited (ASX: BRW)

 

ASX RELEASE                                                             23 SEPTEMBER 2008

 

BREAKAWAY ANNOUNCES A$2M SHARE PLACEMENT TO

CORNERSTONE INVESTOR

MELBOURNE-BASED INVESTOR SUPPORTS NICKEL & BASE METAL DEVELOPMENT STRATEGY

 

KEY POINTS

 

? Share placement comprising 10M shares to be undertaken to Abbotsleigh Pty Ltd.

? Share placement to be completed by 29 September 2008.

? Abbotsleigh to hold fully diluted stake of 5.6%.

? Funds raised to be used to progress ongoing nickel and base metal exploration programmes in Western Australia and Queensland.

 

Breakaway Resources Limited (ASX: BRW ? ?Breakaway?) is pleased to announce that it has reached agreement to undertake a strategic share placement to raise a minimum of A$2 million to Abbotsleigh Pty Ltd (Abbotsleigh?), a mining investment company associated with Melbourne-based businessman, Mr Ian Gandel.

 

The placement, which comprises 10 million shares at a price of 20 cents, is being under taken pursuant to the ?excluded offer ?provisions (section 708) of the Corporations Act.

 

Following completion of the share placement, Abbotsleigh will have a fully diluted stake of 5.6% Mr Gandel has a record of investing in the mid-tier and junior resource sector with significant holdings in a number of emerging resource companies including Alliance Resources Limited and Alkane Resources Limited. Mr Gandel commented that he based his investment decision on his confidence in Breakaway?s quality nickel and base metal assets and its experienced and successful management team. He has also expressed an interest in considering an increase to his shareholding in the future.

 

The share placement represents a notable achievement in the current market environment, providing a significant capital injection and bringing another strategic industry player onto Breakaway?s register.

 

The proceeds from the placement will boost Breakaway?s existing cash reserves which will be used to further progress Breakaway?s nickel and base metal exploration programmes in Western Australia Queensland, including:

 

? West Kambalda ? further evaluate the historical 1A and Andrews mines where recent drilling has successfully defined down-plunge extensions to both deposits.

 

? Wildara Project ? further evaluate the recently discovered Horn nickel deposits, as well as a series of new targets in close proximity and along strike of the deposit and;

 

? Eloise Regional ? base metal exploration on Breakaway?s 100% owned tenements, adjoining the Eloise Copper Mine in which Breakaway owns a 30% Net Profit Royalty interest.

 

Commenting on the announcement, Breakaway?s Managing Director, Mr Peter Buck, said: ?This capital raising represents another important milestone in our development and a significant achievement considering the current market circumstances. We welcome Abbotsleigh as a strategic investor, which represents a strong endorsement of the quality of Breakaway?s assets and of our strategic vision to develop a significant resource company?.

 

?The funds raised will assist the progression of our exploration programmes,? Mr Buck said. ?We have had several recent exploration successes which require evaluation in the short term, to formulate the future strategy and build on those successes".

 

?The agreement with Abbotsleigh secures an immediate cash injection. This will dovetail well with the expected re-commencement of royalty earnings ? in mid-calendar 2009 ? from our 30% net profit interest in the Eloise Copper Mine in Queensland, ensuring ongoing funding for the Company over the next 12 months".

 

ENDS

 

For further information contact:

Mr Peter Buck

Managing Director

Breakaway Resources Limited

Mobile: 0411 554 099

Business: (08) 9278 6444

 

 

READ CORPORATE
Public Relations Corporate Communications
T: (+61-8) 9388-1474 | F: (+61-8) 9388-1472 | E: info@readcorporate.com.au | Web: www.readcorporate.com.au 

 

Breakaway Resources

EN DÉVELOPPEMENT
CODE : BRW.AX
ISIN : AU000000BRW9
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.

Breakaway est en développement de projets de nickel, de cuivre, d'argent et d'or en Australie, et détient divers projets d'exploration en Australie.

Son principal projet en développement est ELOISE PROJECT en Australie et ses principaux projets en exploration sont BUNGALDIN, MIRANDA PROJECT, MT FINNERTY NICKEL JV, MOUNT CLIFFORD - MOUNT NEWMAN, YILLAREE, SCOTIA PROJECT, EAST KIMBERLEY, KALGOORLIE, KAMBALDA WEST PROJECT, WILDARA, BANNOCKBURN et VIVIEN en Australie.

Breakaway est cotée en Australie et en Allemagne. Sa capitalisation boursière aujourd'hui est 3,5 millions AU$ (3,3 millions US$, 2,5 millions €).

La valeur de son action a atteint son plus haut niveau récent le 18 mai 2007 à 0,94 AU$, et son plus bas niveau récent le 21 juin 2013 à 0,01 AU$.

Breakaway possède 291 100 507 actions en circulation.

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Nominations de Breakaway Resources
28/05/2010Ltd: Appointment of Corporate Advisory Firm to Assist with D...
Projets de Breakaway Resources
31/05/2011(Eloise Project)Drilling commences at Eloise, North Queensland
05/07/2010(Wildara)Expands Nickel Exploration Effort
05/03/2010(Wildara)Exploration Update
21/10/2009(Scotia Project)Breakaway to Recommence Nickel Drilling at Scotia Project
03/08/2009Drilling Results Confirm Near-Surface Gold Potential at Spar...
16/07/2009(Mt Finnerty Nickel Jv)Sale of Breakaway's MT Finnerty JointVenture Earn-In Rights ...
01/07/2009(Scotia Project)Commences Gold Exploration Drilling
11/06/2009(Scotia Project)Gold Exploration Initiative
04/12/2008(Eloise Project)Eloise Copper Mine - Further Update
18/09/2008(East Kimberley)Results for Nickel Sulphide Extensions at Keller Creek NI-CU...
09/09/2008(Eloise Project)Eloise Copper Mine Production Ramp-Up Positions Operation fo...
04/09/2008(Kambalda West Project)Drilling Confirms Additional High Grade Nickel Extensions at...
31/07/2008(Eloise Project)Eloise Copper Mine Performing Strongly With Plan to Expand F...
30/07/2008(East Kimberley)Significant Sulphide Extensions Discovered in Keller Creek N...
29/04/2008(Kambalda West Project)Drilling Planned at Kambalda West Gold Joint Venture by Barr...
12/03/2008(Kambalda West Project) Drilling Planned to Test Substantial Depth Extensions at An...
06/03/2008(Wildara)Further Significant Intersections at the Horn *RESENT*
Communiqués de Presse de Breakaway Resources
14/09/2012Alcoa CIO Nancy Wolk Recognized for World-Class IT Leadershi...
10/08/2010EM Survey Commences at Miranda
27/07/2010Quarterly Report for the Period Ending 30 June 2010
02/06/2010BHP Billiton Launches Deep Drilling at Altia JV
28/04/2010Activity Report for the Quarter Ended 31 March 2010
09/04/2010Nickel Drilling and Exploration Update
28/01/2010Activity Report For The Quarter Ended 31 December 2009
15/12/2009Saints Nickel Target Drilling Update
21/07/2009June 2009 Quarterly Report
20/02/2009Company Update - Management Structure
27/01/2009Quarterly Activites Report December 2008
23/09/2008Announces A$2M Share Placement to Cornerstone Investor
26/06/2008Significant Gold Results From Kambalda West Gold Joint Ventu...
24/06/2008First Stage In-Fill Drilling Confirms Integrity of Horn Nick...
19/06/2008Andrews Mine - Depth Extension Discovered - 1A Mine - Early ...
03/06/2008Lonsec Report
29/04/2008Quarterly Activity Report
14/04/2008 Maiden Resource: 8,300 Tonnes of Nickel for the Horn Deposi...
08/04/2008 Positive TEM Results Increase Potential For Additional Nick...
27/03/2008Further Nickel Drilling Success at the Horn Extending Minera...
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AUSTRALIA (BRW.AX)BERLIN (BW2.BE)
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