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- Release Date: 24/12/13 12:08
- Summary: GENERAL: CRP: Chatham appoints London Corporate Advisers
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CRP
24/12/2013 10:08
GENERAL
REL: 1008 HRS Chatham Rock Phosphate Limited
GENERAL: CRP: Chatham appoints London Corporate Advisers
Media Release
24 December 2013
Chatham Rock Phosphate appoints London corporate advisers for capital raising
Chatham Rock Phosphate has appointed London corporate finance advisers Wimmer
Financial to manage an international capital raising over coming weeks.
The financing, by private placement, is likely to be determined by a book
build process managed in conjunction with Wimmer Financial. The offering,
for qualified investors, is likely to be the final capital raising required
before CRP is fully permitted.
"As our project is well advanced in all other respects we see the granting of
the second permit we require - the environmental or "Marine" consent - as a
game changer for us," according to Managing Director Chris Castle.
He says an opportunity to invest on the same terms (including options) is
unlikely to occur again.
"The recently granted mining permit, the first to be granted under new
legislation, faced very rigorous scrutiny indeed. The success of this
application bears tribute to the undeniable merits of the project."
Mr Castle said the project's key merits include:
o Chatham holds a strategic, multi-million tonne organic rock phosphate
deposit uniquely positioned to access Asian and Australasian fertiliser
markets
o It has a 20 year mining licence
o It has recently applied for new prospecting licences both east and west of
its existing licence areas that could significantly increase the scope of
resources.
Chatham is seeking NZ$6million (net) to fund the environmental consent and
corporate costs until Q3, 2014 when the environmental Marine Consent is
expected to be granted.
Edison Research presently values Chatham shares at NZ$2.04 on un-risked
basis.
Wimmer Financial is an international corporate advisory firm based out of
London, UK, specialising in natural resources (mining, oil & gas, alternative
energy) and real estate, with global reach through a network of close
partners and clients all over the world.
Contact Chris Castle on 021 55 81 85 (mobile) or [email protected]
Contact Per Wimmer, CEO of Wimmer Financial LLP on (+44) 207 432 7501
(office) or
(+44) 77 88 75 76 77 (mobile) or [email protected]
End CA:00245662 For:CRP Type:GENERAL Time:2013-12-24 10:08:48
