|
|||
From: Nigel
ArtDate: 18th December 2006
Section: (FILLYABOOTS NEWS RELEASES)
Remote Name: 87.74.94.174
Date: 06/01/07
Time: 15:37
18th December 2006
Leyshon Resources - £8.3 million from US & UK Institutions for Zheng Guang
News Item - Conduit PR
Leyshon raises £8.3 million from US and UK institutions to rapidly progress Zheng Guang to construction
Leyshon Resources Limited ("Leyshon") (AIM & ASX: LRL) today announces that it has raised £8.3 million (US$16.25 million) enabling it to rapidly progress the Zheng Guang gold zinc project to construction status and to continue to expand the 1.2 million ounce gold equivalent resource through a major exploration programme.
The placement was made to institutional clients of Mirabaud Securities Limited and Seymour Pierce Limited and include a number of the largest funds in the UK and US resources sector.
It is planned to invest US$5.5 million into pre production development activities which are expected to commence early in 2007, US$4.8 million towards a major generative exploration programme commencing in April 2007 and final joint venture payments with the balance being applied for working capital purposes.
The placement was made at 22 pence per share before issue costs and will occur in two tranches, 23,786,984 shares this week pursuant to ASX Listing Rule 7.1 (15% placement limit) and the remaining 13,944,016 shares immediately following shareholder approval at a shareholder meeting to be held on 17 January 2007.
Edward Portman Conduit PR Ltd 76 Cannon St London EC4N 6AE Office: +44 (0) 20 7429 6666 Direct: +44 (0) 20 7429 6607 Fax: +44 (0) 20 7429 6699 Mob: +44 (0) 773 3363 501
www.conduitpr.com
|