Perth-based mineral explorer Athena Resources Ltd aims to raise $2.4 million through its initial placement offer for further exploration and working capital.
Perth-based mineral explorer Athena Resources Ltd aims to raise $2.4 million through its initial placement offer for further exploration and working capital.
Perth-based mineral explorer Athena Resources Ltd aims to raise $2.4 million through its initial placement offer for further exploration and working capital.
The full text of a company announcement is pasted below
Three of Perth's most experienced mineral explorers are seeking to raise $2.4 million for new float Athena Resources Limited to explore for world class nickel sulphide and gold deposits in previously untested geological environments at Ravensthorpe and in the
Ashburton district of Western Australia.
Athena will be targeting nickel sulphides and gold in Proterozoic orogenic belts that have been overlooked by previous explorers in favour of greenstone belts within the Archaean cratons.
The three-man Athena Board of Directors combines 86 years of successful professional experience encompassing the disciplines of exploration, development, production, finance and administration in the mining industry.
Ed Edwards, a chartered accountant and until recently Managing Director of Resource Mining Corporation Ltd, is Chairman of Athena. Don Thomson, a geologist, consultant exploration adviser and former Director of Acclaim Exploration and Azec Resources, is
Executive Director and Shane Sadleir, a geologist and former Managing Director of Bannerman Resources is a non-executive Director.
This Board will direct a highly focused programme testing geological models and using corresponding approaches to exploration which have not previously been applied in the 1,600 sq km Ravensthorpe Project or in the 970 sq km Ashburton Project in the Pilbara.
The Athena Prospectus offers 12 million 20c shares. Shareholders approximately 8 weeks from listing date will get the right to take up options exercisable at 20 cents expiring on 30 November 2009 for 1 cent on a one for one basis. The issue opened on 3 October 2006 and is due to close on 6 November 2006. Oversubscriptions will not be accepted.