064e4b4d-f17c-4a27-b3cc-daee016d5179.pdf
ASX/Media Announcement
6 July 2016
RESULTS OF SHARE PURCHASE PLAN OFFER
Thundelarra Limited ACN 085 782 994 (ASX:THX) (Company) confirms that the offer of shares under the Share Purchase Plan (Plan) lodged with the ASX on 10 May 2016 closed on Thursday 30 June 2016.
A total of 36,180,000 shares in the Company at an issue price of $0.05 each raising $1,809,000 was applied for, representing a 36% take-up by eligible shareholders.
Mr Philip Crabb, Chairman, said "The Company has diligently and systematically continued exploration of our tenements to the point where we now have definite targets for deep drilling at our copper-gold-silver project at Red Bore adjacent to Sandfire's operating DeGrussa copper-gold mine. We are currently drilling at our gold projects located 15 kms north west of Meekatharra. First samples from this initial drilling are in for assay and should be announced in coming weeks. All our other projects are under constant review. I am excited by the possibilities of the forthcoming drill programmes and again on behalf of the Board I would like to thank the eligible shareholders for their continuing support".
CEO Tony Lofthouse endorsed his Chairman's comments, adding "At a time when so many small explorers are experiencing difficulty raising capital, we are very pleased with the level of subscription to this raising.
It is very gratifying that so many shareholders have demonstrated their support for our stated strategy and for the hard measures we have already taken to reduce our costs. This raising has gone a long way towards ensuring that our focused exploration programmes can be delivered as planned: we are entering a very exciting phase".
Under the Plan the funds raised will be used to continue aggressive exploration at our flagship Red Bore copper-gold-silver project. Drill testing the deep VHMS targets for new mineralisation is a priority. The balance of funds will be used to test drill targets identified from recent geophysical surveys at our Garden Gully, Paynes Find and Mooloogool gold projects; to pay the costs of the capital raising; and towards general working capital requirements.
All applicants under the Plan will receive Shares equivalent to their full application amount and it is expected that the Shares will be allotted on 7 July 2016, with holding statements despatched to shareholders on 8 July 2016.
For further Information please contact:
Tony Lofthouse Thundelarra Limited Chief Executive Officer
+61 8 9389 6927
Thundelarra Limited | ABN: 74 950 465 654 | Level 1, 186 Hampden Rd, Nedlands WA 6009 | PO Box 7363, Cloisters Square, WA, 6850 |
www.thundelarra.com.au | [email protected] | Tel: +61 8 9389 6927 | Fax: +61 8 9389 5593