Equity Raising Overview$40 million Institutional PlacementThe...

Equity Raising Overview
$40 million Institutional Placement
The Institutional Placement will comprise a fully underwritten share placement to institutional and sophisticated investors to raise $40 million. The offer price under the placement is $0.255 per share (“Institutional Placement Price”), representing a 13.6% discount to the last closing price of Gindalbie shares on 29 November 2012. The Institutional Placement is fully underwritten by UBS AG, Australia Branch.
The Institutional Placement will take place today and will settle on 6 December 2012.
$22 million proposed Ansteel Placement
Gindalbie’s joint venture partner and major shareholder Ansteel has indicated that it wishes to maintain its existing equity interest in Gindalbie. Consequently, in accordance with ASX Listing Rule 10.11 Gindalbie proposes to call an Extraordinary General Meeting of shareholders, as soon as practicable to pass a resolution to approve a placement of up to 86.3 million ordinary shares at the Institutional Placement Price to Ansteel, who holds shares through Angang Group Hong Kong (Holdings) Limited or its nominee (“Angang HK”). The proposed Ansteel Placement will raise approximately $22 million. Following completion of the Ansteel Placement, Ansteel will regain its approximate 36% equity interest in Gindalbie. The notice of meeting for the proposed EGM is expected to be released as soon as practicable. In addition to shareholder approval, the Ansteel Placement will be conditional upon approval by the Treasurer under the Foreign Acquisitions and Takeovers Act, and subject to, amongst other