BKAThought this one would pull back in time but it is still...

BKA


Thought this one would pull back in time but it is still supported well above the in going price of Robert De Crespigny and Co ,

With so much confidence in new managment I suppose it is only a matter of time before they make Buka a top mining company


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Website: www.buka.com.au

18 DECEMBER 2003
FOR IMMEDIATE RELEASE
The Directors of Buka Minerals Limited are pleased to announce that the Company has entered into an
agreement with an Investor Group led by Robert Champion de Crespigny AC and including well known
businessman Ron Walker AC CBE and Carnegie, Wylie & Company.
Subject to shareholder approval, the Investor Group will subscribe for 42,235,000 new Buka shares at
a price of 15.4 cents raising an initial $6.5 million. The initial cash injection will give the Investor Group
30.5% of the larger Company.
The Investor Group views Buka as its vehicle for resource industry
investment and is committed to its growth.
To this end, the Investor Group has indicated it will consider
providing support for future equity raisings going forward should they be necessary for Buka to take
advantage of growth opportunities as they arise.
As part of the process the Board of Buka will be reconstituted with Robert Champion de Crespigny AC
to become Chairman and Ron Walker AC CBE and John Wylie of Carnegie, Wylie & Co. to join the
Board. Tom Klinger and Angus Collins, who are also on the Triako Board, will remain as directors and
Andrew Kroger and Ray Soper will step down.
The Investor Group and the proposed new Board members bring a depth of experience in the
Australian and global mining and resource sector, and complementary skills in finance, banking,
investment, management and business development. In the near future it is expected that a new chief
executive with extensive mining and finance experience will be appointed to develop and implement
new strategies.
The Investor Group will also be issued 50,000,000 options exercisable at 20 cents between 1 October
2005 and 30 September 2010, and 50,000,000 options exercisable at 22.5 cents between 1 October
2006 and 30 September 2010. If exercised, Buka will receive a further cash injection of up to $21.25
million. The current Board of Directors feel that the calibre of the Investor Group and its commitment to
Buka is of considerable importance and justifies the issue of a substantial incentive by way of options.
As these options are not transferable to a unrelated third party the incoming Investor Group will only
benefit if and when the options are exercised.
New Business Focus
Under the Chairmanship of Robert Champion de Crespigny, the Company will refocus and diversify its
activities beyond its current asset base. The Company intends to:
maximise the value of the Lady Annie copper project. A pre feasibility study has recently been
completed indicating a viable 13,000 tonnes per annum copper cathode project;
maximise the value of its 25% interest in the Lady Loretta zinc/lead /silver project, (Noranda
currently hold the remaining 75%); and
participate actively in the current mining resurgence through judicious investments.
This transaction marks the beginning of a new era for Buka and the Company looks forward to
progress in building a substantial mining business, which it is hoped will value for all Buka
shareholders. Shareholders�f approval must be obtained and relevant documentation including an
independent expert�fs report will be forwarded to shareholders as soon as possible.
Buka Minerals
Limited
A.C.N. 000 741 373
A.B.N. 25 000 741 373
Level 3, 95 Queen Street
Melbourne VIC 3000
Telephone: (03) 9670 6899 Facsimile: (03) 9670 9822
Website: www.buka.com.au