kidding me, just some interesting info, so much more to cover
Apollo Minerals Ltd (ASX:AON) will raise up to $4.4 million as part of a comprehensive recapitalisation process and will restructure its board as well, including the appointment of Ian Middlemas as chairman of the company.
Ian Middlemas has a track record of identifying and developing major resource projects and is the current chairman of Salt Lake Potash Limited, Berkeley Energia Limited, Equatorial Resources Limited and a number of other listed resource companies.
Middlemas was also previously chairman of Papillon Resources Limited in a $614 million exit deal for shareholders.
Prior to the issue of new shares, Apollo will consolidate its outstanding shares 1 for 4, thereby reducing the number of shares on issue to 19.5 million.
Following completion of the consolidation, the company will undertake a placement of 34 million shares at $0.05 each to raise $1.7 million.
The share placement will be made to eligible investors, with the largest participant being Arredo Pty Ltd, a company associated with Mr Ian Middlemas and 4 million shares to Mr Richard *, a current director of the Company.
Following completion of the above steps, the company will then undertake a 1 for 1 pro rata non-renounceable entitlements issue at $0.05 per share on a post consolidation basis to raise an additional $2.7 million before costs.
Additionally, Apollo will appoint Mark Pearce as a director and new company secretary.
The company is aiming for a more efficient operational and administrative cost structure as part of the recapitalisation process, to pursue new opportunities and to progress Apollo’s current projects.
Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.
- Apollo Minerals director shows the way
Chairman Richard * has demonstrated his confidence in Apollo Minerals and its projects with the acquisition of shares in an on-market trade. He now holds about 16 million shares and 5 million performance rights. Directors are also providing support by taking shares in lieu of cash.- http://www.*.com.au/genera/img/companies/news/thumbs/apollo_minerals_iocg_corridor_100_54890fed4c508.jpg
Apollo Minerals discovers IOCG alteration at Titan in the Gawler Craton
Drilling at the NoBrainer prospect within the Titan Project has intersected IOCG alteration. This has returned copper grades of up 2,400ppm from handheld XRF instrument readings. Apollo Minerals has also a strong conductor believed to represent a significant, massive sulphide body at the Bundi prospect.- http://www.*.com.au/genera/img/companies/news/thumbs/apollo_minerals_iocg_corridor_100_5472a7e102a85.jpg
Apollo Minerals makes iron-titanium-phosphate discovery at Titan
Apollo's shares are expected to lift after the latest intersection of iron-titanium-phosphate at Titan. Drill intersections and supporting geophysics suggest potential for large mineralised zones within both the Boulder and Claypan prospects.- http://www.*.com.au/genera/img/companies/news/thumbs/apollo_minerals_eaglehawk_jv_100_54641097ddf37.jpg
Apollo Minerals intersects potential IOCG in Olympic Dam corridor
The final hole of Apollo Minerals’ current drilling program has intersected what appears to be a significant new IOCG system at its Titan Project. The hole in the Eaglehawk JV has intersected the top of a magnetite rich IOCG that remains open in all directions. Shares in the company should trade higher today.- http://www.*.com.au/genera/img/companies/news/thumbs/apollo_minerals_eaglehawk_jv_100_545c304b623e8.jpg
Apollo Minerals has early encouragement from South Australia drilling
Drilling in the Gawler Craton, South Australia, had recently intersected good grades of gold at Mars Aurora Tank and signs of IOCG mineralisation at Commonwealth Hill. Apollo Minerals has further results in pipeline and will announce exploration plans for 2015.- http://www.*.com.au/genera/img/companies/news/thumbs/apollo_minerals_eaglehawk_jv_100.jpg
Apollo Minerals to drill IOCG targets at Eaglehawk JV
A number of high priority IOCG drill targets at Apollo Minerals’ Eaglehawk joint venture in South Australia’s Gawler Craton will be drilled as part its current 2,300 metre IOCG drill program in the wider Titan Project area. This is the first drilling testing for IOCG at the project.- http://www.*.com.au/genera/img/companies/news/thumbs/drilling_at_mars_aurora_tank_100x72.jpg
Apollo Minerals commences drilling at Mars Aurora Tank
Apollo Minerals has now commenced a drilling program at the highly prospective Mars Aurora Tank Project, which may if successful be comparable in size and style given magnetic signatures to IOCG mineralisation evident at the nearby Prominent Hill Mine. Apollo's shares are expected to firm.- http://www.*.com.au/genera/img/companies/news/thumbs/apollo_minerals_mars_aurora_tank_drilling_100.jpg
Apollo Minerals to drill IOCG targets at Mars Aurora Tank
Drilling at the Mars Aurora Tank Joint Venture Project and other large-scale IOCG targets at Bundi South and other Eaglehawk JV sites will begin within four weeks. This holds promise given Mars Aurora Tank's similarities to OZ Minerals’ nearby Prominent Hill IOCG deposit.- http://www.*.com.au/genera/img/companies/news/thumbs/kango_north_iron_project_100x72.jpg
Apollo Minerals raising A$2.2M for copper gold exploration
Apollo Mineral has attracted institutional and sophisticated in a new capital raising for copper gold exploration in South Australia. Funds will be allocated to the Eaglehawk and Mars Aurora Tank Projects in the Gawler Craton, which hosts four of the world’s largest IOCG deposits.- http://www.*.com.au/genera/img/companies/news/thumbs/apollo_minerals_commonwealth_hill_drilling_100.jpg
Apollo Minerals and HPX start IOCG drilling at Commonwealth Hill
A highly anticipated RC and diamond core drill program has kicked off at Apollo Minerals and High Power Exploration’s Commonwealth Hill joint venture project in South Australia. This will test prospective IOCG drill targets from the recent HPX-led Typhoon IP sur
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