knowbs. PSP had 100% of this COW from 2005 , but sold most of it for a FREE-CARRY in 2006 as per below, then bailed completly in 2009 as mentioned above by DJ.
Anyways , let not the FACTS get in the way of a good story eh , ?? This 'may go bonkers' or even 'to 70c' , but is more likely to follow similar HC rampfests , back to where it started.. imo. Careful , seen it all before.
DYOR
Media Release/ASX Release
13 July 2006
PROSPERITY ENTERS INTO INVESTMENT
AND PURCHASE TRANSACTION
Prosperity Resources Limited is pleased to announce it has entered into an attractive transaction with
Prufrock Partners Ltd which has invested just under one million dollars in the Company, and provide
for the funding of an additional two million US dollars into the Masuparia ?Contract of Work?, in
Cental Kalimantan, Indonesia.
Prufrock Partners Ltd is a Bahamas based hedge fund with international interests, including numerous
mining investments.
Prosperity has completed a share placement of 8,724,000 shares at a price of $0.11 cents per share for
an investment of $959,640 to Prufrock Partners Ltd. Prufrock will also invest up to US$ 2,000,000
directly into Golden Arrow Resources Ltd, the 85% owner of the COW to provide working capital for
the an upcoming 5,000 metre portable diamond drilling programme.
Prosperity will become a 10% shareholder in Golden Arrow Ltd by investing $550,000 and will have
no further funding commitments to the Masuparia ?Contract of Work?.
Prufrock and the other Golden Arrow Resources Ltd shareholders will provide assistance and
resources to seek admission to the most favourable Stock Exchange Listing via an IPO for the
minimum raising of five million US dollars in the near future, subject to drilling success. This
relationship is a key to the realisation of the potential of the project.
Prosperity Resources Ltd?s Managing Director, Mr Ric Dawson said ?This transaction allows
the Company to refocus on its Australian iron ore and gold assets whilst still maintaining
exposure to potentially substantial world-class copper and gold projects without the heavy
capital dilution to shareholders.?
?The Company will have 10% equity of Golden Arrow Ltd as well as the opportunity to
purchase an additional 10% through a clawback before the IPO.?
The company is looking forward to the results from the upcoming diamond drilling programme
on the Ongkang/290 Vein and Bunga Desa epithermal gold prospects that will commence in
this quarter.
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