AKM 0.00% 6.0¢ aspire mining limited

bell porter's behind the akm's capital raising

  1. 35 Posts.
    This offer is for Sophisticated and Professional investors ONLY. No staff participation

    Allocations likely to be v small.

    All institutional bids must be disclosed as a condition of our participation as a Co-Manager. Please email me the full account name when bidding in floats.



    Issuer: Aspire Mining Limited (“Aspire”)

    Ticker: AKM.ASX / AKM AU

    Issuer Description: Aspire Mining Limited is an exploration company focused on discovering and developing world class premium coal deposits. Aspire’s primary focus is Mongolia, and the development of its 100% owned Ovoot Coking Coal Project.

    Lead Managers: Argonaut Securities Pty Limited and UBS AG, Australia Branch (“Lead Managers”)

    Co-Manager: Bell Potter Securities Limited

    Offer Type: Non underwritten primary placement (the “Placement”) of new fully paid ordinary shares (“New Shares”) by Aspire.

    Use of proceeds: Placement proceeds will be used for:

    - Further exploration of the Ovoot Basin within the next 12 months

    - Carrying out infill drilling to increase the resource and establish a Mongolian Registered Reserve

    - Completion of a Pre Feasibility Study and Feasibility Study regarding the Ovoot Project

    - Application for a Mongolian Mining License over the Ovoot Resource

    - Completion of a Rail Pre Feasibility Study in relation to the rail link to Erdenet

    - Application for a rail license for the Ovoot to Erdenet rail link

    - Administration and working capital

    Offer size ($): Up to approximately 15% of Aspire’s shares on issue

    Offer Price: Fixed price of A$0.41 per Share

    Discount: 15.5% discount to last close (A$0.485 on Monday, 10 October 2011)

    8.9% discount to 5-day VWAP (A$0.45)

    19.6% discount to 30-day VWAP ($0.51)

    Ranking: The New Shares will rank pari passu with existing fully paid ordinary AKM shares

    Management Presentation

    A management presentation in relation to the offer is available on the ASX website: www.asx.com.au.

    Fee: 1%


    Bids due in Floats 4.00pm TODAY Tuesday 11 October

    Settlement (T+3): Monday, 17 October 2011

    Allotment of New Shares: Tuesday, 18 October 2011

    Trading of New Shares: Tuesday, 18 October 2011

    Bell Potter research attached.

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Buyers (Bids)

No. Vol. Price($)
1 120020 6.1¢

Sellers (Offers)

Price($) Vol. No.
6.3¢ 20030 1
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