another capital raising just annouced

25 Charles Street, South Perth WA 6151 PO Box 1013, South Perth WA 6951
Telephone: (08) 9368 4544 Facsimile: (08) 9368 4522
Web: www.oropa.com.au Email: [email protected]
ACN: 009 241 374
2 February 2005
Company Announcements Office
Australian Stock Exchange Limited
4th Floor
20 Bridge Street
SYDNEY NSW 2000
Dear Sir or Madam,
CAPITAL RAISING TO FUND EXPLORATION PROJECT
Oropa Limited (“Oropa” or “the Company”) is pleased to announce that it has reached agreement in
principle with London based institutions and Findlay & Co. Stockbrokers (Underwriters) Pty Ltd to raise
up to $1.2 million, less expenses estimated at $72,000, via a placement of Shares and Options at an
issue price of 2.4 cents per Share. The Company will issue up to 50 million ordinary fully paid Shares,
together with up to 16.67 million listed Options, each to acquire one Share exercisable at 5 cents on or
before 31 December 2007, on the basis of one Option for every three Shares issued.
The funds raised will enable Oropa to follow up recent successful exploration drilling at the
+610,000 oz Au Sihayo 1 North Inferred Resource located with in the Pungkut Contract of Work in
Northern Sumatra, Indonesia. Planned exploration will include infill drilling of the widely spaced drill
holes within the Resource envelope, plus additional drilling to further test gold mineralisation recently
intersected outside the Resource envelope.
Drilling will be conducted concurrently with a detailed metallurgical evaluation of the Sihayo ore and a
comprehensive petrological study to obtain a better insight into the nature and controls influencing the
gold mineralization at Sihayo, with a view to identifying additional resource targets. This work is
scheduled to commence towards the end of this month. The nearby high grade Sambung prospect will
also receive additional test pitting and trenching across several hundred meters of strike to progress the
prospect to a drill-ready status.
Yours faithfully,
OROPA LIMITED
PHILIP C CHRISTIE
Managing Director


2.4c down she goes