• Freitag, 22 November 2024
  • 23:27 Uhr Frankfurt
  • 22:27 Uhr London
  • 17:27 Uhr New York
  • 17:27 Uhr Toronto
  • 14:27 Uhr Vancouver
  • 09:27 Uhr Sydney

Cerro Resources NL Announces A$17.8M Placement

25.02.2011  |  Marketwire

LONGUEUIL, QUEBEC -- (Marketwire) -- 02/25/11 -- Cerro Resources NL (ASX: CJO)(TSX VENTURE: CJO) (the 'Company') has agreed to place a total of 89,290,470 fully paid ordinary shares at a price of A$0.20 per share to raise gross proceeds of A$17,858,094.


The placement is being made through Patersons Securities Limited ('Patersons') to sophisticated and professional investors. In connection with this placement, the Company has agreed to issue to Patersons a total of 5,000,000 options at an exercise price of A$0.27 cents per share with a maturity of 2 years.


Importantly the funding will allow the Company to accelerate the exploration of the highly prioritised Namiquipa Silver project, allow the Company to consider a further increase in the activity at Mt Philp Iron Ore post the first stage of resource drilling and to review further exploration project opportunities in Mexico. The Company expects to hold in excess of A$21M in cash after closing of the placement, which should occur on or about March 2, 2011.


The placement is subject to receipt of approval of the TSX Venture Exchange. The placement is within the 15% permitted under Listing Rule 7.1 and is an excluded issue under Section 708 of the Corporations Act. Shareholders will be asked to ratify this placement at the next general meeting of shareholders.


About Cerro Resources


Cerro Resources is a precious and base metals exploration and development company. The Company is currently focused on developing the Cerro del Gallo gold/silver project in the central state of Guanajuato, Mexico and maintains an active working focus on the Mt Isa exploration project, Queensland, Australia.


Additional information about the Company is available on the Company's website at www.cerroresources.com and on SEDAR at www.sedar.com.


Forward-Looking Information


This news release contains certain 'forward-looking information' under Canadian securities laws. All statements that address future plans, activities, events or developments that the Company believes, expects or anticipates will or may occur are forward-looking information. Forward looking information is based upon assumptions by management that are subject to known and unknown risks and uncertainties beyond the Company's control, including risks related to mining exploration and the availability of financing for companies such as the Company. There can be no assurance that outcomes anticipated in the forward looking information will occur, and actual results may differ materially for a variety of reasons. Accordingly, readers should not place undue reliance on forward-looking information. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking information, except as may be required by law.


Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contacts:

Tony McDonald, Managing Director

Craig McPherson, Chief Financial Officer

61 7 3252 0122


For North America, please contact:

Ms Gerri Paxton

Manager Investor Relations

514-544-2696
gpaxton@cerroresources.com



Bewerten 
A A A
PDF Versenden Drucken

Für den Inhalt des Beitrages ist allein der Autor verantwortlich bzw. die aufgeführte Quelle. Bild- oder Filmrechte liegen beim Autor/Quelle bzw. bei der vom ihm benannten Quelle. Bei Übersetzungen können Fehler nicht ausgeschlossen werden. Der vertretene Standpunkt eines Autors spiegelt generell nicht die Meinung des Webseiten-Betreibers wieder. Mittels der Veröffentlichung will dieser lediglich ein pluralistisches Meinungsbild darstellen. Direkte oder indirekte Aussagen in einem Beitrag stellen keinerlei Aufforderung zum Kauf-/Verkauf von Wertpapieren dar. Wir wehren uns gegen jede Form von Hass, Diskriminierung und Verletzung der Menschenwürde. Beachten Sie bitte auch unsere AGB/Disclaimer!



Mineninfo
Cerro Resources NL
Bergbau
-
-
Copyright © Minenportal.de 2006-2024 | MinenPortal.de ist eine Marke von GoldSeiten.de und Mitglied der GoldSeiten Mediengruppe
Alle Angaben ohne Gewähr! Es wird keinerlei Haftung für die Richtigkeit der Angaben und der Kurse übernommen!
Informationen zur Zeitverzögerung der Kursdaten und Börsenbedingungen. Kursdaten: Data Supplied by BSB-Software.