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INDOPHIL RESOURCES COMPLETES A$57.5 MILLION SHARE PLACEMENT AND
ANNOUNCES A SHARE PURCHASE PLAN FOR EXISTING SHAREHOLDERS
Indophil Resources NL today announced that it has completed a private share placement which
raised A$57.5 million from Australian and overseas institutional and professional investors.
The placement, arranged by ABN AMRO Morgans Corporate Limited and Haywood Securities
(UK) Ltd, was undertaken at A$0.85 per share and was heavily oversubscribed. These funds are
being raised pursuant to the ‘excluded offer’ provisions (Section 708) of the Corporations Act.
The A$57.5 million placement program has been structured in two tranches:
• An immediate placement of 45.2 million shares (equivalent to 15% of the Company’s
current issued capital) to raise A$38.4 million.
• A further placement of 22.5 million shares to raise an additional A$19.1 million. Completion
of this second tranche is conditional on obtaining shareholder approval which will be sought
at a general meeting of the Company to be held in June 2006.
In addition to the placement program, Indophil Resources’ shareholders who are on record at the
close of business on 5 May 2006 will have the opportunity to acquire up to A$5,000 of additional
shares in Indophil, at the same price as the placement, by participating in a Share Purchase Plan
(SPP).
Indophil’s Managing Director, Mr Tony Robbins, said that the capital raising proceeds will be used
to strengthen Indophil’s capacity to fund future equity requirements for the Tampakan Copper-Gold
Project in the southern Philippines, and to advance the Company’s exploration portfolio.
“We took this placement proposal to the marketplace and we are very pleased with the enthusiastic
support we have received from both existing and new shareholders,” Mr Robbins said.
“Indophil has an exciting suite of assets, with a focus on the Tampakan project, where the prefeasibility
study is due for completion in September this year.”
Mr Robbins said that in late April, the Company announced a revised resource estimate for
Tampakan of almost two billion tonnes at a 0.72% copper equivalent. At a 0.3% copper cut-off
grade, this represents a copper resource of 11.6 million tonnes and a gold resource of 14.6 million
ounces.
“The Tampakan resource was already very impressive. However, the new estimate, reported under
the 2004 JORC Code and Guidelines, represents a significant 31% increase in contained copper
metal over the previous estimate,” Mr Robbins said.
“Clearly, Tampakan is world class. It is one of the largest undeveloped copper-gold resources in
the world.