ASX Release - 26 August 2015
Dispatch of Share Purchase Plan Documents
Mithril Resources Ltd ("Company") (ASX: MTH) advises that the Offer Booklet and Acceptance Form for the Share
Purchase Plan ("SPP") announced on the 18 August 2015 will be despatched to Eligible Shareholders today.
Under the SPP a maximum of 126,312,988 shares will be issued at a price of $0.0045 (0.45 cents) to raise up to
$0.57M.
Funds raised will be used to advance drill targets at the Stark copper-nickel-PGE prospect, fund ongoing target generation activities and for working capital purposes.
Located 80 kilometres south east of Meekatharra in Western Australia, Stark is a new discovery where Mithril has defined a series of bedrock EM conductors along strike from and beneath high-grade copper-nickel-PGE mineralisation (i.e. 4m @ 1.91%Cu, 0.18%Ni, 0.96g/t PGE's from 194 metres and 0.15m @ 13.70% copper, 0.16% nickel, 3.94g/t PGE's from 246.35 metres - ASX Announcement dated 23 March 2015).
The SPP will allow eligible shareholders to purchase up to A$15,000 worth of fully paid shares in the Company
(subject to scale-back if oversubscribed) without incurring brokerage or other transaction costs.
The offer price of the shares under the SPP represents a 15.77% discount to the volume weighted average price (VWAP) of Mithril shares traded on the ASX during the period of 5 trading days up to and including the trading day prior to the announcement of the SPP (17 August 2015), and a 25% discount to the closing price on the 17
August 2015.
The right to participate in the SPP is available exclusively to shareholders who were registered as holders of fully paid ordinary shares in the Company on 17 August 2015 and whose registered address is in Australia or New Zealand.
The Company's Directors have indicated that they intend to take up their maximum entitlement under the SPP
(subject to scale-back if oversubscribed).
The Indicative timetable for the SPP is as follows:
Record date for eligibility to participate in the SPP - 17 August 2015
Offer opening date - 9.00am (Adelaide time) 26 August 2015
Offer closing date (subject to Directors' discretion to vary) - 5.00pm (Adelaide time) 21 September 2015
Allotment date - 29 September 2015
22B Beulah Road
|
T:
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(61 8) 8132 8800
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ASX Code:
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MTH
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Norwood, South Australia, 5067
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F:
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(61 8) 8132 8899
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Issued Shares:
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421,043,293
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Page 1 of 2
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www.mithrilresources.com.au E: [email protected] Market Capitalisation: $1.68 million
ENDS
For Further Information Contact:
Mithril Resources Ltd
David Hutton, Managing Director
[email protected]
22B Beulah Road
Norwood, South Australia 5067
ABN: 30 099 883 922
T: (61 8) 8132 8800
F: (61 8) 8132 8899 www.mithrilresources.com.au
Competent Persons Statement:
The information in this report that relates to Exploration Targets, Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Mr David Hutton, who is a Competent Person, and a Fellow of The Australasian Institute of Mining and Metallurgy. Mr Hutton is Managing Director and a full-time employee of Mithril Resources Ltd.
Mr Hutton has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'.
Mr Hutton consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
About Mithril Resources Ltd:
Mithril Resources Ltd is an Australian exploration company focused on the discovery and development of base metal deposits primarily copper. Mithril is a frontier explorer with a small but highly experienced team based in Adelaide. Combining advanced technology with a proven field‐based approach ensures the bulk of the company's expenses go directly into the ground.
22B Beulah Road
|
T:
|
(61 8) 8132 8800
|
ASX Code:
|
MTH
|
Norwood, South Australia, 5067
|
F:
|
(61 8) 8132 8899
|
Issued Shares:
|
421,043,293
|
Page 2 of 2
|
www.mithrilresources.com.au E: [email protected] Market Capitalisation: $1.68 million