maximus resources, page-3

Maximus prepares to list with $6m public float
CAMERON ENGLAND
10sep05
ANOTHER Adelaide-based diversified minerals explorer plans to list on the Australian Stock Exchange after announcing a $6 million public float yesterday.

Maximus Resources plans to initially target gold in the Adelaide Hills and metals and uranium in Western Australia.

The firm's prospectus, lodged last night, offers up to 30 million ordinary shares at 20c each to raise up to $6 million, with a minimum subscription of $4 million. One free attaching option, exercisable by June, 2008, will be offered for every two Maximus shares.

Adelaide's Flinders Diamonds will have a 12 per cent stake in the new company. It will accept seven million shares in return for Maximus acquiring the non-diamond minerals exploration rights to several of its tenement assets.

These include the rights over the Adelaide Hills Bird in Hand gold prospect and the Billa Kalina uranium, gold and copper project 85km northwest of the Olympic Dam uranium mine in SA and the Woolanga gold-copper project in the Northern Territory.









In addition, shareholders in Flinders Diamonds will have priority rights in the Maximus IPO.

Western Australian mining promoter Bruce Legendre will also emerge as a major shareholder with an 8 per cent stake in Maximus, if the IPO is fully subscribed.

Maximus managing director Kevin Wills said yesterday there was known mineralisation on four of the company's five projects.

Maximus plans to list on the Australian Stock Exchange by October 26 with 60 million shares and 30 million options on issue, capitalising the company at $12 million.