battle continues/oppenheimer vs china et al, page-2

Hi Vespasian03,

Have you read this announcement??


ABN 97 008 045 083
702 Murray Street, West Perth
Western Australia 6005
Phone: 61 8 9213 9400
Fax: 61 8 9213 9444
Email: [email protected]
Website: www.resmin.com.au

27 March 2006

Companies Announcements Office
Australian Stock Exchange Limited
20 Bridge Street
Sydney NSW 2000

Placement of Shares and Entitlement Issue
The Company is pleased to announce that it has reached agreement for the placement of 44,500,000 ordinary fully paid shares at an issue price of $0.05 per share to raise $2,225,000 from sophisticated and institutional clients of Findlay & Co Stockbrokers (Underwriters) Pty Ltd.
The Company has also resolved to undertake a non-renounceable entitlement issue on the basis of one new share for every three shares held at the record date (to be advised), together with one free attaching option for every two shares subscribed for, at an issue price of $0.05 per share. The options to be issued will be exercisable at 10 cents each on or before 30 June 2008.
The record date for entitlements will be determined on lodgement of the necessary prospectus with ASX.
The funds raised will be utilised to advance the company’s projects, in particular the Argyle Iron Ore Project, and for additional working capital.
Neville J Bassett
Company Secretary

Cheers markco2