Creasy eyes deal with Windward
Nick Sas, The West Australian
July 23, 2013, 7:25 am
Prospector Mark Creasy is attempting to rub some Sirius Resources' spark on to another small resources play, with market speculation indicating he has stitched up a major deal with tiddler Windward Resources.
It is understood Mr Creasy will exchange tenements in the Fraser Range near Sirius' Nova project for about $7 million in cash and Windward shares.
Under his Yandal Investments arm Mr Creasy owns 30.4 per cent of Windward, which listed on the Australian Securities Exchange in October.
It is understood Windward, which went into a trading halt yesterday, will also raise about $10 million at 25� a share - a slight premium to its last trading price of 23.5�.
The company is expected to come out of the trading halt to announce the deal and the raising on Wednesday.
Windward's flagship asset is the Fraser Range South project in the Albany Fraser Range belt, 30km south of Jerramungup.
As with Sirius, Mr Creasy, through separate subsidiary NBX, retains a 30 per cent interest in the tenements along with his majority stake in Windward.
However, it is unclear whether the tenements exchanged in the deal are an extension of that land.
Late last month, Windward appointed David Frances, former head of Toronto-listed copper play Mawson West, as managing director on a $275,000 per annum contract. Windward chairman Steve Lowe - a former Sirius chairman and head of Mr Creasy's business interests - indicated during Windward's IPO listing that it was looking at future acquisitions.
http://au.news.yahoo.com/thewest/business/a/-/wa/18109285/creasy-eyes-deal-with-windward/
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