Crashed 30%.Agincourt buys gold project; $150m placement 10:09,...

Crashed 30%.

Agincourt buys gold project; $150m placement
10:09, Monday, 24 July 2006

Sydney - Monday - July 24: (RWE Australian Business News) -
Agincourt Resources Ltd (AGC) reports an Agreement to acquire the
multi-million ounce Martabe Gold and Silver Project (Martabe) in
Indonesia from Newmont Mining Corporation (Newmont).
Agincourt also reporst the successful equity capital raising of
A$150 million to fund, inter alia: the acquisition price, completion of
the bankable feasibility study and environmental approvals.
Martabe, located in Sumatra, Indonesia, is one of the most
attractive undeveloped gold projects globally, with a JORC resource1 of
5.3 million ounces of gold and 54.8 million ounces of silver hosted
within a large epithermal system.
Agincourt will acquire a 100% interest in Martabe at an
acquisition cost of US$80.25 million, representing a gold equivalent
resource price of less than A$18 per ounce.
Wilson HTM and Deutsche Bank AG are the Joint Lead Managers
and Underwriters for the placement of 86.96 million shares at an issue
price of A$1.15 per share to raise approximately A$100 million.
Up to an additional A$50 million is being invested by Newmont at
the same issue price.