ASX AND
MEDIA ANNOUNCEMENT
14 November
2007
AVIVA APPOINTS CITI AS
ADVISOR
The Board
of integrated energy company, Aviva Corporation (ASX:AVA)
is pleased to announce the appointment of Citigroup Global Markets Australia
Pty Limited (“Citi”) to advise on:
- The ongoing development,
structuring and financing of the company’s integrated energy
projects; and
- Acquisition opportunities for
Aviva’s integrated energy portfolio.
Aviva is
advancing the 2x200MW Coolimba Power project in Western Australia and is
targeting financial close in the last quarter of 2008. Coolimba
will employ leading edge emissions technology for water, sulphur and carbon
dioxide.
This month,
Aviva will complete a drilling program at its Mmamantswe
project in Botswana
and a resource estimate for the deposit by the end of the year. The drill
results have been encouraging and scoping work for an integrated energy project
in Botswana
will commence immediately.
As part of
the financing strategy, Citi will assist Aviva and
its other advisers in the development of an optimal corporate structure that
will:
- facilitate the raising of
effective debt and equity finance packages for Aviva’s integrated
energy projects; and
- provide flexibility for Aviva
to pursue other development and operational opportunities.
Aviva
recently announced a placement to raise $A21 million of new equity from
investors and is strongly positioned to advance its portfolio of integrated
energy assets. Approval of the placement will be sought from shareholders at
the AGM on Friday 16th November. These funds are to be utilized to
progress pre-development activities in Western Australian and Botswana, and provide additional
working capital for new project generation.
For further
information contact:
Lindsay
Reed
Robert Kirtlan
Aviva
Aviva
Chief
Executive Officer
Director
Tel: +61
(0) 8 9367 2344
Tel: +61 (0) 8 9367 2344
Issued by:
Warrick Hazeldine
Purple Communications
Tel: +61 (0) 8 9485
1254 Mob: 0417 944 616
ABOUT AVIVA
Aviva is an integrated energy
company listed on the Australian Stock Exchange with its head office in Perth. The company is
growing a portfolio of integrated energy assets. Aviva’s most advanced
asset is the Coolimba Power project in Western Australia.
The Coolimba
Power Project will be based on the Central West Coal project and is ideally
located in the northern half of the SWIS power grid to take advantage of demand
growth both in the SWIS and from new resource projects in the Mid West Region.
The location has the advantage of low cost fuel, available water, adjacent
infrastructure, existing mining lease and freehold land. Coolimba
will be a 400MW base load generator employing leading emissions technology for
water, sulphur and carbon dioxide.
Aviva is earning a 90% interest
in the Mmamantswe project in Botswana where it is targeting a
600Mt coal deposit. The project is well positioned, being on the South African
border and adjacent to key infrastructure including, highway, railway, and high
voltage transmission lines.
Please visit: www.avivacorp.com.au
Issued
by
Purple
Communications
Level
3, 28 Kings Park Road, WEST
PERTH WA 6005
Ph:
08 9485 1254 Fax: 08 6263 0455
purple@purplecom.com.au
