Creasy seeks funds

HAVING ploughed $1 million into exploring the Windimurra Superproject and the Jillawarra project, prospector Mark Creasy is seeking the backing of public investors through a $4 million initial public offer of Apex Minerals NL.

But Mr Creasy does not come empty handed. Canadian nickel miner Falconbridge Ltd has signed up as cornerstone investor, making a minimum two-year commitment to explore the Narndee intrusion for platinum, gold, nickel and base metals that may rest within the 5,000 square kilometre Windimurra Superproject that stretches from Mt Magnet to Sandstone. Falconbridge will earn up to a direct 64 per cent interest by spending $4 million over five years and financing at least one feasibility study.

Lawyer Philip Pullinger, Stephen Lowe and Stephen Stone will be directors of the new listed company.

The Apex prospectus, sponsored by Euroz Securities offers the public 20 million of the 38.2 million fully paid shares, at 20 cents a share.

Mr Creasy will have a 30 per cent interest in the company.

“Our main objective is to give all shareholders multiple returns on their investments,” Mr Stone said.

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