0951 [Dow Jones] Hardman Resources (HDR) shares halted pending completion of
equity-raising from both European and Australian investors. Total number of
shares to be placed not yet finalized, but no more than 57 million, with
Woodside (WPL) agreeing to subscribe for 10 million of total shares issued.
Placement price set at 70 cents/share, a slight discount to yesterday's 72 cents
closing price (placement price 24.5 pence in U.K.). Proceeds of issue will fund
future exploration and development programs and working capital. Shares likely
to resume trading Friday, should hold up well given Woodside support. (RAT)
HDR
hardman resources limited