" The Company expects to hold a General Meeting in February 2012 to ratify the acquisition of the Project and such other resolutions as required to re-comply with Chapters 1 and 2 of the Listing Rules.
Proposed changes to Robe Board
As a consequence of the Boards’ decision to exercise the Option, the Board will actively engage in identifying suitable additional Board members with specific expertise in the resource sector. This is likely to entail changes to the existing Board structure in due course and include the appointment of exploration and mining industry professionals with appropriate Mongolian and coal mining expertise.
Proposed Capital Raising
The existing Project will require further capital to undertake an environmental impact assessment, scoping studies, hydrogeology studies and other feasibility studies given its very early stage exploration status. The Company expects to raise up to $3 million (which may be supplemented if further assets are identified for acquisition) to both meet the requirements of Chapters 1 and 2 of the Listing Rules and to fund further feasibility studies and drilling and will lodge a Prospectus in respect to this raising. Eligible Shareholders will be provided a Priority Offer in respect to the raising and existing Option Holders who will have no inherent right to participate in the Priority Offer will be notified of the raising and given time to exercise their options if they so choose. "
Tim , am I missing something about the dates ?
ROB Price at posting:
1.4¢ Sentiment: Buy Disclosure: Not Held
