A total of 200 million fully paid ordinary shares (New Shares) will be issued at
Placement Details
The Company will issue 200,000,000 New Shares at a price of
The first tranche will issue 112,000,000 New Shares under the Company's current placement capacity to raise
Tranche 2 will be the issue of 88,000,000 New Shares to raise the remaining
Subject to shareholder approval, the Company will also issue up to 5 million unlisted options (Broker Options) as consideration for facilitating the capital raising. The Broker Options will have the same terms as the Attaching Options.
Use of Funds
Funds raised from the Placement will be used for ongoing exploration of Aruma's existing Western Australian gold projects including the newly secured Pilbara tenements; evaluation of the
PROJECT ACQUISITION
Aruma has entered into an agreement to purchase the
The Project areas display similar host stratigraphy and structures to the McPhillamys deposit. The project areas have not been drilled or sampled for gold. The mineralisation styles in the belt have thickness, grade and recent exploration success in the sediments of the Lachlan Fold Belt. This type of mineralisation style fits the Aruma Sediment model.
The project is to be acquired by the issue of 5 million New Shares (
The project tenements ELAs 5955 and 5956 are held by
Contact:
Tel: +61 8 9321 0177
Email: info@arumaresources.com
FORWARD LOOKING STATEMENT
Certain statements contained in this document constitute forward looking statements. Such forward-looking statements are based on a number of estimates and assumptions made by the Company and its consultants in light of experience, current conditions and expectations of future developments which the Company believes are appropriate in the current circumstances. These estimates and assumptions while considered reasonable by the Company are subject to known and unknown risks, uncertainties and other factors which may cause the actual results, achievements and performance of the Company to be materially different from the future results and achievements expressed or implied by such forward-looking statements.
Forward looking statements include, but are not limited to, statements preceded by words such as 'planned', 'expected', 'projected', 'estimated', 'may', 'scheduled', 'intends', 'anticipates', 'believes', 'potential', 'could', 'nominal', 'conceptual' and similar expressions. There can be no assurance that Aruma plans to develop exploration projects that will proceed with the current expectations. There can be no assurance that Aruma will be able to conform the presence of Mineral Resources or Ore Reserves, that any mineralisation will prove to be economic and will be successfully developed on any of Aruma's mineral properties. Investors are cautioned that forward looking information is no guarantee of future performance and accordingly, investors are cautioned not to place undue reliance on these forward-looking statements.
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