Mineral Deposits Limited

Mineral Deposits Limited

July 18, 2011 07:54 ET

Mineral Deposits Completes Retail Entitlement Offer

MELBOURNE, AUSTRALIA--(Marketwire - July 18, 2011) -


Mineral Deposits Limited (TSX:MDM)(ASX:MDL) announces today the completion of the final component of its recently announced equity raising, with an additional $1 million raised from the retail entitlement offer.

A total of $137 million was raised from the equity raising, which comprised a 1-for-4 accelerated non-renounceable entitlement offer and a placement of 10 million shares, with both the entitlement offer and placement priced at A$6.00 per share.

The new shares from the retail entitlement offer have been issued and allotted today and rank equally with existing Mineral Deposits shares on issue. Trading will commence on Tuesday, 19 July 2011.

The gross proceeds of the equity raising will be utilised to fund:

  • equity contributions to the proposed joint venture with Eramet SA, which will be used primarily for development of the Grande Côte Mineral Sands Project in Senegal;
  • general working capital purposes; and
  • costs associated with the offer.

Following completion of this equity raising the Company has the following securities on issue:

  • 83,538,786 ordinary fully paid shares;
  • 45,000 options expiring 18 July 2012 exercisable at A$12.78;
  • 550,000 options expiring 29 November 2012 exercisable at A$12.78; and
  • 100,000 options expiring 4 December 2012 exercisable at A$12.78.

This release does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States. The securities to be issued in the proposed offering have not been and will not be registered under the U.S. Securities Act of 1933 (the "Securities Act"), or under the securities laws of any state or other jurisdiction of the United States. Securities may not be offered or sold in the United States, unless the securities have been registered under the Securities Act, or in a transaction exempt from, or not subject to, the registration requirements of the Securities Act and applicable U.S. state securities laws.

ABN 19 064 377 420

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