MEP
ASX Release 24 September 2010
Page 1 of 2
247 Greenhill Road, Dulwich 5065, South Australia
A.C.N. 108 483 601
Tel: +61 8 8366 6000 Fax: +61 8 8366 6001
Website: www.minotaurexploration.com.au
Email: [email protected]
ASX Code: MEP
24 September 2010
The Company Announcements Office
Australian Securities Exchange Limited
Placement raises A$3.38 million for Minotaur
Minotaur Exploration Limited (Minotaur, ASX code: MEP) is pleased to announce that it
has successfully closed a placement of new equity, raising A$3.38 million before costs.
The placement, at A$0.28 per share, will see approximately 12 million new ordinary shares
allocated to clients of Patersons Securities (Lead Manager), Taylor Collison and Phillip
Capital.
Minotaurs free cash position at the end of August was $3.67 million.
Todays equity injection will further underpin Minotaurs extensive Q4 2010 exploration
programme and position the Company for equally intensive activity in the first half of
calendar 2011. Minotaur is active across a suite of multi-metal projects in SA, NT,
Queensland, has recently expanded into Victoria, and has tenements in Canada.
Minotaurs multi commodity project pipeline is robust and exciting, with exposure1 to:
multiple iron-oxide-copper-gold geophysical anomalies, such as near Olympic Dam in
South Australia, immediately north of the Ernest Henry mine near Cloncurry in
Queensland, and along the major Cobequid regional suture in Nova Scotia, Canada
base metals prospects in New South Wales, Victoria and South Australia
an 803,000 ounce JORC gold resource2 in South Australia and potential for new
discoveries in proven goldfields in Victoria
a significant new and high quality, magnetite iron province south-west of Broken Hill, and
potentially the highest quality kaolin deposit available globally, near Ceduna in South
Australia.
1 Minotaurs involvement in projects mentioned is either as a joint venture partner (where Minotaur is
operator and manager) or as sole owner. Refer Quarterly Report for period ending 30 July 2010 for
details of relevant equity positions.
2 Tunkillia gold project, Minotaur 54.75%MINOTAUR EXPLORATION LTD
Minotaur Exploration Limited, MEP
ASX Release 24 September 2010
Page 2 of 2
Minotaurs Managing Director, Mr Andrew Woskett, said:
With a sound cash balance, sound equity investments in listed resource explorers, a solid
shareholder base, supportive and constructive Japanese joint venture participants, and a
project portfolio that belies Minotaurs size, Minotaur will move strongly through the
remainder of 2010. With these new investee funds Minotaur can continue its work
programme with confidence and develop our opportunities into 2011.
In accordance with Listing Rule 3.10.3, the Company provides the following details of
the placement shares:
Class of Securities: Fully Paid Ordinary Shares
Number to be issued: 12,079,437
Principal Terms: The shares will carry standard rights applicable to
quoted ordinary shares in the Company and will, from
the date of issue, rank equally with fully paid quoted
ordinary shares currently on issue.
Issue Price: $0.28 per share
Purpose of the Issue: Issued to raise funds for exploration and working capital
purposes.
Shareholder Approval: The Company will not seek shareholder approval prior to
the issue of the placement shares as approval for this
issue is not required by the Listing Rules. The company
intends to subsequently seek approval of this issue at its
annual general meeting pursuant to Listing Rule 7.4
(subsequent approval of issue of securities).
Issue to Class: The issue is not being made to a class of security
holders.
As the issue will be to sophisticated and/or professional investors, it will not require
disclosure under the Corporations Act.
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