regency letter update

Regency Chairman Andrew Bell comments: "We have given notice of exercise in respect of 6.5% of our carried interest of 20% in the Fraser Range Project, leaving us with a 13.5% carried interest, and broadly maintaining our current shareholding level. Almost as significant in our eyes as the placing itself is the entry of Hartleys in managing the issue, a sign of confidence both in the Ram management and in the new Fraser Range mineral province. We hope to see a deeper and broader shareholder base at Ram and more research coverage as this highly regarded resources specialist broker engages with and supports the Ram board."

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