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  1. 32 Posts.
    Friday 29th February 2008
    Financial advisory firm, Lloyd Edwards-Jones FZE (‘LEJ’) is to fully underwrite any shortfall in Rusina Mining NL’s pending conversion of all of the Company’s remaining listed options.
    The underwriting agreement will ensure Perth-based Rusina – which has recently commenced nickel mining and sales from its Acoje project on the Philippine island of Luzon – is guaranteed net proceeds from the conversion of A$7.2 million.
    Rusina’s 37.3 million 20 cent options are due to expire on 31 March.
    Lloyd Edwards-Jones operates in the Paris, London and Dubai financial and equities markets and this is its first involvement with the Australian nickel explorer and developer.
    The underwriting agreement by Lloyd Edwards-Jones includes sub-underwriting agreements with Rusina shareholder and joint venture partner, European Nickel PLC as well as RAB Capital PLC.
    When completed, the options conversion will take the number of Rusina ordinary shares on issue to 241.5 million.
    Lloyd Edwards-Jones will be paid a fee in cash of 3% of the amount underwritten. A further 4% fee, payable either by way of the issue of options to acquire ordinary shares at $0.20 and valued at $0.02, or by the issue of fully paid shares at $0.20, will be paid to the sub-underwriters.
    “We are extremely pleased at this broad show of support,” Rusina’s Managing Director, Mr Robert Gregory, said.
    “By providing certainty to the receipt of the option funds of $7.2 million (net of fees), Rusina is now able to commit to its exploration plans for tenements and resources that are not otherwise being funded by the Company’s joint venture partners.”
    Mr Robert G M Gregory Enquiries to:
    CEO & Managing Director Mr Mark Hanlon
    Rusina Mining NL Chief Financial Officer
    +61 8 9226 1111
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