15/05/2006 - 13:06

Thundelarra raises $2.85m for exploration projects

15/05/2006 - 13:06

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Western Australian-based resources explorer Thundelarra Exploration Ltd has successfully completed a $2.85 million fundraising, to progress its nickel, uranium and base metal exploration projects.

Thundelarra raises $2.85m for exploration projects


Western Australian-based resources explorer Thundelarra Exploration Ltd has successfully completed a $2.85 million fundraising, to progress its nickel, uranium and base metal exploration projects.

The capital raising is by way of fully paid ordinary shares at $0.19 each, ranking pari passu with Thundelarra's existing ordinary shares, and free attaching options with an exercise price of $0.19 on or before June 30 2009.

The placement, with BBY Ltd the lead manager, will be completed in two tranches, with the first raising $532,000. The second tranche will raise $2.3 million, and is subject to shareholder approval.

 

 

THE FULL MEDIA RELEASE APPEARS BELOW.

EQUITY PLACEMENT TO FUND EXPLORATION

Thundelarra Exploration Ltd ("Thundelarra") is pleased to announce it has successfully completed a
fundraising of $2.85 million, via a placement of shares and free attaching options, for the purposes of
progressing Thundelarra's exploration projects. BBY Limited was the Lead Manager to the transaction.

The shares will be fully paid ordinary shares ranking pari passu with Thundelarra's existing fully paid
ordinary shares. The options will have an exercise price of $0.19 and be exercisable on or before 30
June 2009 ("Options"). Thundelarra will apply for the shares to be quoted on the Australian Stock
Exchange Limited ("ASX"). It is proposed that the free attaching Options will be quoted on the ASX
following the completion of Tranche 2 of the placement (refer below), subject to fulfilling all ASX

Thundelarra proposes to use the capital raised to progress its nickel, uranium and base metal
exploration projects.

Placement
The placement will be completed in two tranches:
Tranche 1: Issue of 2,800,000 fully paid ordinary shares at an issue price of $0.19 each,
together with 2,800,000 free attaching Options, to raise $532,000. No
shareholder approval is required with respect to the issue of Tranche 1 securities.
Tranche 2: Issue of 12,200,000 fully paid ordinary shares at an issue price of $0.19 each,
together with 12,200,000 free attaching Options, to raise $2,318,000, subject to
shareholder approval at a General Meeting to be held in June 2006.

Thundelarra will be sending out a Notice of General Meeting shortly to its shareholders, in anticipation
of holding the General Meeting in June 2006 to ratify Tranche 1 and approve Tranche 2 of the placement.

 

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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