GTM giants reef mining limited

Non-renounceable rights issue

  1. 6,931 Posts.
    LODGMENT OF PROSPECTUS
    As Sharcholders will be aware Glants Reef Mining Limited is proceeding to develop its majority
    ownership in the high grade Chariol gold deposit located 9 kilometres west of the toum of Tennant
    Crcck NT. At the same time the Company has elected to refurbish the Wmcgo Ore Treatment Plant, a
    facility in which it has one hundred percent ownership. The Warrego plant, which is currently the only
    treatment facility on the entire Tennant Creek Goldfield, has additional capacity to that required to
    treat the Chariot ore. The re-establishment of thc larger Warrego Plant is of significant strategic
    inlportance to the Company.
    To achieve the above objectives the Company is pleascd to advise that it has lodged a Prospectus with
    the ASIC today for the offer of up to 140,452,320 Shares at an issue price of $0.036 each, together
    with 70,226,160 to raise up to $5,056,284.
    The offer is a Fro-rata Non-renounceable Entitlements Issue made to existing Shareholders of Giants
    Reef Mining Limi,ted on the basis of one new Share (and one half of a free attaching Option) offered
    far every three shares held at the Record date. The Record date has been set at close of business Friday
    24 May 2002.
    Shareholders may apply for additional Shares beyond their 1:3 entitlement, subject to availability and
    the discretion of Directors.
    The Shares will rank pari passu with the existing shares. Each Option is exercisable into a Share by the
    payment of $0.10 per Option at any time prior lo 5:OO PM Western Standard Time on the 30 June
    2004.
    Full details of the Offer are included in the Prospectus. Shareholders and investors arc urged to read
    the Prospectus in full.

    Regards

    Desmond
 
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