Goldstar
Resources NL (ASX: GDR)
ASX
RELEASE
29
APRIL 2008
Share
Placement
Goldstar Resources NL (ASX: GDR) is
pleased to announce the placement of 7,189,241 shares to Mineral Resources
Limited (ASX: MIN) at 14.5 cents per share to raise $1,042,440. When combined
with its recently acquired shareholding, Mineral Resources Limited now holds
5.01% of the expanded issued capital of Goldstar.
The funds raised
will be used to continue work on the Tubal Cain/Eureka Feasibility Study and
the work program as outlined in recent announcements.
Mineral Resources
Limited is an integrated Australian-based mining services and processing
company with operations in contract crushing, general mine services,
infrastructure provision and recovery of base metal concentrate for export.
Goldstar welcomes
Mineral Resources to the register and looks forward to their ongoing support as
the Company moves towards production.
Following
completion of the share placement, Goldstar will have approximately 147.4
million shares on issue. In accordance with ASX Listing Rule 7.1, the placement
can be completed within Goldstar’s existing 15% placement capacity and
does not require shareholder approval.
For further information:
Andrew King
Managing Director
Goldstar Resources NL
Telephone: (+61-8) 9321
1577
www.goldstarnl.com.au
READ CORPORATE
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