To watch an interview with Mr Andrew Mortimer, Managing Director on Sky Business News
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Notice to Shareholders
The Directors of Proto Resources have resolved that the Company will make a pro rata non-renounceable offer of up to 31,233,165 shares at an issue price of three (3) cents per share with a free attaching option exercisable at five (5) cents on or before 31 December 2011 for every one share subscribed for.
The Offer is fully underwritten by BBY Limited.
The timetable for the issue is as below:
14 May 2009 Lodgement of Prospectus
19 May 2009 ‘Ex’ Date
25 May 2009 Record Date
27 May 2009 Despatch of Prospectus to Shareholders
25 June 2009 Closing Date
3 July 2009 Allotment of Securities
8 July 2009 Despatch of Holding Statements
Applicants should consult their brokers or professional advisors in regards to the definition of ‘Ex’ Date and Record Date to ensure that their entitlement to participate in the offer is assured.
To download the Prospectus for the Issue please
Click here
Proto Resources is an ASX-listed development and exploration company based in Sydney, Australia, with a focus on nickel and iron ore.
Proto Resource’s flagship project is the Barnes Hill project in northern Tasmania. A 12.1 million tonne JORC compliant indicated resource at 0.83% nickel and 0.07% cobalt is currently defined at Barnes Hill, with a recent resource drilling program set to upgrade a portion of this resource into the measured category. This drilling also uncovered the iron ore potential of the project, which would seem commercial grade in line with other small scale operations in Tasmania close to the BHP Temco smelter.
Proto Resources has a financing and technology agreement with Metals Finance Corporation over Barnes Hill, whereby Metals Finance Corporation takes an interest in the project in return for committing the technology and financing assistance necessary to bring the project into production. Proto Resources and Metals Finance Corporation are currently completing a feasibility study on the project.
Proto Resources also has several exciting exploration targets around Australia especially including Lindeman’s Bore in the Northern Territory and Mt Vetters in WA. Lindeman’s Bore recently received a A$100,000 drilling grant from the NT government, being a similar target to the impressive Norilsk ore body in Siberia. The Norilsk mines in Siberia have forty percent of the world’s platinum reserves and one third of the world’s nickel sulphide reserves.
Proto Resource’s brokers are
BBY in Australia and
VSA Capital in the UK and Europe.
For our current share price or current commodity prices please see below. Also scroll below to subscribe to our eNewsletter.
