escrow shares released, page-9

I dont think Mindoro are going to sell any shares at all so imo saying there will be another dump is hopefull thinking , and imo the oposite will happen

for those that did not read the initial announcement on this in November

RED MOUNTAIN MINING SHARE REGISTER TIGHTENS

• Voluntary Escrow extends hold on Red Mountain shares held by major shareholder Mindoro
• Mindoro’s 50 million Red Mountain Performance Shares expire
• Four million RMX shares to be cancelled on relinquishment of Tapian San Francisco Project
• Mindoro indicates no current intention to “in-specie” distribute remaining 96 million shares
Perth based Red Mountain Mining Ltd (ASX:RMX, “Red Mountain”, “the Company”) is pleased to announce
that the Company’s major shareholder, Mindoro Resources Ltd (“Mindoro”), has agreed to a maximum six
month Voluntary Escrow period on the 100 million fully paid ordinary shares issued to it on 30 October
2012 as consideration for the sale of Philippines gold and copper-gold exploration assets, beyond expiry of
the original 12 month escrow period to 30 October 2013, potentially to 30 April 2014.
Mindoro has also announced its current intention not to immediately distribute the shares “in specie” to
Mindoro shareholders following release from Voluntary Escrow. This Voluntary Escrow period is to allow
transfer of certain contractual rights and amendments to a Technical Service Agreement at the Batangas
Gold project to be finalised.
In addition, in accordance with the terms of the Share Sale Agreement (see below), the 50 million
Performance Shares held by Mindoro today converted to a single fully paid ordinary Red Mountain share
due to applicable milestones not having been satisfied by 30 October 2013.
Red Mountain will also, subject to shareholder approval, “buy-back” and cancel 4 million of the 100 million
fully paid ordinary shares held by Mindoro in return for the Company relinquishing its contractual rights to
the low priority Tapian San Francisco Joint Venture exploration prospect on Mindanao Island in the
Philippines.
As a result of the above Mindoro will retain 96 million RMX shares and remain the major shareholder,
holding approximately 20% of the fully paid ordinary shares in the Company.
Red Mountain Managing Director, Mr Jon Dugdale said, “These are all positive developments for Red
Mountain shareholders as it effectively removes the “overhang”, tightens the existing capital structure and
releases us from our obligation to issue a substantial number of new shares for the acquisition of the gold
and copper gold assets previously owned by Mindoro.”
“Red Mountain is continuing exploration activity aimed at increasing high-grade exploration potential, and
building upon the current 408,000 oz resource base, as well as a scoping study into a gold project
development at Lobo, Batangas, near Manila in the Philippines,” said Mr Dugdale.