Mawson West raises $7.0 million to accelerate drilling towards completion of maiden
JORC resource statement
The directors of Mawson West Ltd (ASX: MWE) are pleased to announce a placement of 33,333,334 shares at 21 cents
per share, to raise $7,000,000 (“The Placement”). The placement was oversubscribed and priced at the June 2008 volume
weighted average price. The placement was made to current shareholders Macquarie Bank and RMB Resources and other
institutional and sophisticated clients of Tricom Equities Ltd. The directors welcome the new shareholders to the share
register.
The Placement will be made in two tranches, with 3,384,595 shares issued pursuant to ASX Listing Rule 7.1, with the
balance of 29,948,739 shares issued pursuant to ASX Listing Rule 7.3; subject to shareholder approval at a general
meeting of shareholders to be held at the earliest possible time.
MWE has experienced strong investor interest after the latest announcements of high grade drilling results from the
Kapulo copper project in the Democratic Republic of Congo (DRC). The Kapulo project is a Joint Venture between MWE
and Anvil Mining Limited and covers 5,500km2 of tenements in the DRC and Zambia. MWE is the operator of the project
and will have earned 65% by August 2008.
MWE
mawson west ltd
