🕐08.02.10 - 06:36 Uhr
Cauldron receives final tranche of A$10M Chinese investment
Media Release
8 February 2010
Cauldron receives final tranche of A$10M Chinese investment
Key points:
A total of A$10M invested into Cauldron by a strategic Chinese
investors;
o A$3M via a Placement
o A$7M via a Convertible Note facility
Funds to be applied to exploration activities at Cauldron projects
in Australia and Argentina,
Cauldron expects to have drilling rigs operating at all major
projects by Q1/Q2 2010,
Australian uranium exploration and development company Cauldron Energy
Limited (ASX: CXU) ("Cauldron" or "the Company") has received the final
A$5M from its
A$10M capital raising with strategic Chinese investors, full details of
which were announced to the ASX on 10 November 2009.
Cauldron Energy Limited Executive Chairman, Mr Tony Sage, said that with
the full monies from the capital raising now banked the Company would
step-up its
exploration activities across its Australian and Argentinean uranium
assets.
"The Company is now well funded and is advanced in the execution of its
aggressive exploration campaigns on its uranium assets in Australia and
Argentina" said Mr Sage.
The raising was conducted in two tranches, with the first tranche, by way
of a Placement, seeing Cauldron place a total of 6M shares to its Chinese
investors at an issue price of A$0.50 per share, to raise A$3M.
These
shares were issued pursuant to shareholder approval obtained at the
Companys Annual General
Meeting on 24 November 2009.
The second tranche of A$7M was completed via a Convertible Note facility.
The first A$2M under this facility was paid to the Company in early January
(see ASX announcement 8 January 2010), with the final payment of A$5M made
to the company in recent days.
Cauldron will continue to develop its assets and opportunities in Australia
and Argentina.
There will be a particular focus on drill testing its
Argentinean and Australian (both Northern Territory and Western Australian)
assets this year.
To view the full ASX Announcement click here.
http://esp.gewru.com/download/files/12414/1074445/Cauldron%20receives%20final%20tranche.pdf
For further information please contact:
Tony Sage
Cauldron Energy Limited
Ph: (08) 9380 9555
Terry Topping / Brett Smith
Cauldron Energy Limited
Ph: (08) 9211 5777
David Tasker
Professional Public Relations
Ph: (08) 9388 0944/ 0433 112 936
Email:
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