Forte Energy NL
ACN 009 087 852
ASX and AIM Release
1 March 2013
Update on corporate negotiations
Forte Energy NL ("Forte Energy" or "the Company") (ASX/AIM: FTE), the emerging international uranium
company focused on the exploration and development of uranium assets in West Africa, announces that the
negotiations on prospective corporate transactions that have been in process throughout the past few weeks
have not resulted in the agreement of suitable terms for the Company at present. The trading of its stock
in Australia has been suspended since 1 February 2013 pending the release of the quarterly reports and
while these discussions have been taking place.
The Company is continuing to assess alternative opportunities, and will update the market if and when any
As a result of the cessation of discussions on the above mentioned transaction, and having lodged its
quarterly reports, the Company has requested that trading of its stock resume on the ASX following the
release of this announcement.
In the meantime the Company is pleased to announce that it has raised gross proceeds of £587,177, before
expenses, under its £10 million Equity Financing Facility ("EFF") with Darwin Strategic, a majority owned
subsidiary of Henderson Volantis Capital.
Under the terms of the EFF agreement, the company has raised £587,177 by way of the issue of 29,250,000 new
ordinary shares to Darwin Strategic. The new ordinary shares will be issued at a price of 2.01p (A$ 2.98
cents) per share and will rank pari passu in all respects with existing ordinary shares in Forte Energy.
The funds will be used to accelerate exploration targets on its existing assets.
The draw down on the EFF is the first undertaken by the company and the gross price per share represents a
premium of 13% to the closing price per ordinary share on the 28th of February, being the latest
practicable date prior to this announcement.
Mark Reilly, Managing Director
Tel: +44 (0) 203 3849555
Geoff Nash/Ben Thompson
Tel: +44 (0) 20 7220 0500
RFC Ambrian Ltd (AIM Nominated Adviser to the Company)
Tel: +61 (0) 8 9480 2506
Darwin Strategic Limited
Anand Sambasivan / Jamie Vickers
Tel: +44 (0) 20 7938 5754
Bobby Morse/Louise Hadcocks/Cornelia Browne
Tel: +44 (0) 207 466 5000
Forte Energy NL
Australia United Kingdom
Suite 3, Level 3 3C Princes House
1292 Hay Street 38 Jermyn Street
West Perth WA 6005 London SW1Y6DN
Ph: +61 (0)8 9322 4071 Ph: +44 (0)203 3847474
Fax: +61 (0)8 9322 4073 Fax: +44 (0)207 2878387
Email: email@example.com Email: firstname.lastname@example.org
About Forte Energy
Forte Energy is an Australian-based minerals company focused on the exploration and development of uranium
and associated bi-products in Mauritania and Guinea in West Africa. The Company has an extensive pipeline
of assets and total JORC resources of 76.8Mt @ 266ppm U3O8for 44.9Mlbs contained U3O8 (100ppm cut-off).
Its flagship assets are the A238 prospect (23.4Mlbs U3O8) and the Bir En Nar project (2.06Mlbs U3O8) in
Mauritania, and the Firawa Project in Guinea (19.5Mlb U3O8).
Forte Energy U3O8 JORC resources (all at a 100ppm cut-off):
Project Resource Category M tonnes ppm U3O8 Contained U3O8 Mlbs
A238* Inferred 45.2 235 23.4
Bir En Nar Indicated 0.5 886 1.0
Inferred 0.8 575 1.0
Firawa Inferred 30.3 295 19.5
Total Indicated 0.5 886 1.0
Inferred 76.3 262 43.9
Total 76.8 266 44.9
* A238NW Anomaly included in the A238 Inferred Resources
Forte Energy's strategy is to target high grade uranium ore bodies and build a low cost West African-
focused uranium producer. The Company is quoted on the Australian Stock Exchange (ASX: FTE) and AIM market
of the London Stock Exchange (AIM: FTE). For more information, visit www.forteenergy.com.au
The information in this report that relates to Exploration Results is based on information compiled by Mr.
Bosse Gustafsson, who is a Member of the European Federation of Geologists, a 'Recognised Overseas
Professional Organisation' ('ROPO') included in a list promulgated by the ASX from time to time. Mr
Gustafsson is a former Technical Director of Forte Energy NL. He has an ongoing role as a consultant to the
Company. Mr. Gustafsson has sufficient experience which is relevant to the style of mineralisation and type
of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person
as defined in the 2004 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral
Resources and Ore Reserves'. Mr. Gustafsson consents to the inclusion in this report of the matters based
on his information in the form and context in which it appears.
The information in this report that relates to the Mineral Resources at the A238 prospect in Mauritania and
at Firawa in Guinea is based on information compiled by Mr. Bosse Gustafsson of Forte Energy NL and Mr
Galen White BSc (Hons) FGS, FAUSIMM, Managing Director and Principal Geologist of CSA Global (UK) ltd.
The information in this report that relates to the Mineral Resource at Bir En Nar in Mauritania is based on
information compiled by Mr. Bosse Gustafsson of Forte Energy NL and Mr. Neil Inwood of Coffey Mining Ltd.
Neil Inwood is the Competent Person responsible for the resource estimation and classification. Mr Inwood
is a Fellow of the AusIMM. As Mr Inwood is now no longer employed by Coffey Mining, Coffey Mining has
reviewed this information release and consent to the inclusion, form and context of the relevant
information herein as derived from the original resource reports for which Mr Inwood's consent has
previously been given.
Mr. Gustafsson, Mr. Inwood and Mr. White have sufficient experience which is relevant to the style of
mineralisation and type of deposit under consideration and to the activity which they have undertaken to
qualify as a Competent Person as defined in the 2004 Edition of the "Australasian Code for Reporting of
Exploration Results, Mineral Resources and Ore Reserves". Mr. Gustafsson, Mr. White and Coffey Mining on
behalf of Mr. Inwood consent to the inclusion in this report of the matters based on their information in
the form and context in which it appears.