13/05/2008 - 10:07

Strike sourcing $32m for iron ore projects

13/05/2008 - 10:07

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Mineral exploration and development company, Strike Resources Ltd, will aim to raise $32 million to further develop its Peruvian iron ore projects.

Mineral exploration and development company, Strike Resources Ltd, will aim to raise $32 million to further develop its Peruvian iron ore projects.
Over 13 million shares will be issued at $2.45 per share, through institutional and professional clients of BBY Limited.

Full announcement below:

The Company is pleased to announce the completion of a $32 million share placement to
Australian, UK and US based institutional and professional clients of BBY Limited through
the issue of 13.051 million shares at an issue price of $2.45.
BBY has advised the Company that the issue was heavily over-subscribed, with strong
domestic and international support being received.
The Company is pleased that that there is now a growing number of significant institutional
investors on its share register, who support the Company and its operations moving
forward.
Placement funds will be used to further develop the Company's Peruvian iron ore projects.
The issue was made under the Company's existing 15% placement capacity, without the
need for shareholder approval. The Company expects to allot these shares on or about 21
May 2008.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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