TIDMBGL
RNS Number : 9341K
Bullabulling Gold Limited
05 August 2013
5 August 2013 AIM Code: BGL, ASX Code: BAB
ADDITIONAL LAND SECURED FOR BULLABULLING DEVELOPMENT
-- Option acquired over 500 hectares of land adjacent to the Bullabulling mine site
-- Provides greater flexibility for placement of infrastructure and facilities
-- Potential to reduce the tailings storage facility construction cost
-- Ensures future mine expansion not constrained by land access
Bullabulling Gold Limited (Bullabulling or the Company) is
pleased to report that it has executed an option agreement with
Metaliko Resources Limited (Metaliko) to secure approximately 500
hectares of additional land at Bullabulling. The option covers
three Prospecting Licenses situated immediately east of the
Company's existing tenure, as shown on the attached plan.
The additional land will provide the Company with greater
flexibility in relation to the placement of mine infrastructure and
facilities associated with the proposed development of the
Bullabulling Gold Mine. In particular it will allow the Company to
evaluate a number of design alternatives for the tailings storage
facility (TSF) with the objective of reducing construction
costs.
The extended land area will also provide for future expansion of
the proposed operations. There will be greater capacity to store
tailings and waste rock in the event that mining continues beyond
the scheduled 12 years. The Company considers there to be good
prospects for extracting a greater proportion of the currently
defined resource and for expanding the resource beyond the existing
113 million tonnes.
In addition, should economic mineralisation be identified to the
east of the current deposit, waste rock stockpiles and the TSF
earmarked for placement in that area can be more readily
re-positioned to facilitate mining.
The Company will be optimising the site layout as part of the
current definitive feasibility study, which is expected to verify
that acquisition of the additional tenements will enhance value
prior to exercise of the option. The tenements will also be
sterilised to ensure any economic potential is not impaired through
the placement of tailings or waste rock, however based on prior
exploration the prospectivity of the area is considered to be
low.
Key terms of the option agreement are:
-- Tenements subject to the option - P15/4820, P15/5361 and P15/5365
-- The consideration for Metaliko granting the option was
$25,000, which was satisfied by Bullabulling issuing 500,000 shares
with a deemed value of $0.05 per share
-- The initial option term is 12 months
-- Bullabulling can extend the option for an additional 12
months by paying Metaliko an extension fee of $40,000, which can be
paid in cash or shares at Bullabulling's election
-- Bullabulling must keep the tenements in good standing during the term of the option
-- Bullabulling can exercise the option by paying Metaliko an
exercise fee of $200,000, which can be paid in cash or shares at
Bullabulling's election
-- Bullabulling is responsible for sterilising the tenements prior to exercising the option
-- If potentially economic mineralisation is identified during
the sterilisation program a joint venture will be formed to further
evaluate and exploit the mineralisation
-- If a joint venture is formed, Bullabulling will be deemed to
have earned a 60% interest in the joint venture by expending
$200,000 on sterilisation or evaluation
Application has been made for the 500,000 new ordinary shares to
be admitted to AIM, which is expected to become effective on [9]
August 2013
Following admission of the 500,000 new ordinary shares, the
total number of issued ordinary shares will be [342,248,777]
ordinary shares. The Company does not hold any ordinary shares in
treasury. This figure may be used by shareholders in the Company as
the denominator for the calculations by which they will determine
if they are required to notify their interest in, or a change to
their interest in, the share capital of the Company under the
Financial Conduct Authority's Disclosure and Transparency
Rules.
An appendix 3B form for the shares issued to Metaliko is
attached.
Brett Lambert Westhouse Securities Limited
Bullabulling Gold Limited (UK Broker & Nominated Adviser)
Level 2, 55 Carrington Street Martin Davison
Nedlands, WA, 6009, Australia Tel: +44 20 7601 6100
Tel: +61 8 9386 4086
------------------------------- -----------------------------------------------
Neil Boom John Gardner / Rupert Dearden
Gresham PR Ltd (UK media) MAGNUS Investor Relations. Corporate
Tel: +44 7866 805 108 Communication. (Australian Media)
Tel: +61 8 6160 4900
jgardner@magnus.net.au rdearden@magnus.net.au
------------------------------- -----------------------------------------------
For information, contact:
About Bullabulling Gold Limited
Bullabulling Gold Limited is listed on the Australian Securities
Exchange (ASX:BAB) and London's AIM Market (AIM:BGL) and has
approximately 341.7 million shares on issue. The Company's primary
asset is the wholly owned Bullabulling Gold Project, located 60
kilometres west of Kalgoorlie in Western Australia.
The Bullabulling Gold Project hosts JORC compliant Mineral
Resources of 3.7 million ounces comprising Indicated Resources of
72.7 million tonnes at 0.97 g/t gold (2.3 million ounces) and
Inferred Resources of 40.5 million tonnes at 1.11 g/t gold (1.4
million ounces). Exploration has demonstrated strong potential for
further expansion of the resource base.
The Bullabulling deposit is amenable to bulk tonnage open pit
mining and conventional CIL processing. All resources are situated
on granted Mining Leases in close proximity to infrastructure.
The Company is conducting a definitive feasibility study into
the development of a large scale, low cost mining operation at
Bullabulling which is scheduled for completion in 2014.
Competent Person Statement
The information in this report that relates to the Exploration
Results, Mineral Resources or Ore Reserves is based upon
information compiled by Mr Trevor Pilcher, who is a full time
employee of the Company and is a member of The Australasian
Institute of Mining and Metallurgy. Mr Pilcher has sufficient
experience relevant to the style of mineralisation and type of
deposit under consideration and the activity in which he is
undertaking to qualify as a Competent Person under 2004 Edition of
the Australasian Code for Reporting Exploration Results, Mineral
Resources and Ore Reserves (JORC Code). Mr Pilcher consents to the
inclusion in this report of the matters based on his information in
the form and context in which it appears.
Rule 2.7, 3.10.3, 3.10.4, 3.10.5
Appendix 3B
New issue announcement,
application for quotation of additional securities
and agreement
Information or documents not available now must be given to ASX
as soon as available. Information and documents given to ASX become
ASX's property and may be made public.
Introduced 01/07/96 Origin: Appendix 5 Amended 01/07/98,
01/09/99, 01/07/00, 30/09/01, 11/03/02, 01/01/03, 24/10/05,
01/08/12
Name of entity
Bullabulling Gold Limited
-----------------------------
ABN
50 153 234 532
------------------
We (the entity) give ASX the following information.
Part 1 -- All issues
You must complete the relevant sections (attach sheets if there
is not enough space).
1 +Class of +securities Fully paid ordinary shares.
issued or to be issued
Number of +securities
issued or to be issued
(if known) or maximum
number which may be
2 issued 500,000
3 Principal terms of Fully paid ordinary shares.
the +securities (eg,
if options, exercise
price and expiry date;
if partly paid +securities,
the amount outstanding
and due dates for
payment; if +convertible
securities, the conversion
price and dates for
conversion)
--------------------------------
4 Do the +securities Yes. Fully paid ordinary.
rank equally in all
respects from the
date of allotment
with an existing +class
of quoted +securities?
If the additional
securities do not
rank equally, please
state:
* the date from which they do
* the extent to which they participate for the next
dividend, (in the case of a trust, distribution) or
interest payment
* the extent to which they do not rank equally, other
than in relation to the next dividend, distribution
or interest payment
--------------------------------------------
5 Issue price or consideration $ 25,000
--------------------------------------------
Purpose of the issue Consideration for option fee
(If issued as consideration paid to Metaliko Reosurces Limited
for the acquisition as announced
6 of assets, clearly on 5 August 2013.
identify those assets)
--------------------------------------------
Is the entity an +eligible Yes.
entity that has obtained
security holder approval
6a under rule 7.1A?
If Yes, complete sections
6b - 6h in relation
to the +securities
the subject of this
Appendix 3B, and comply
with section 6i
--------------------------------------------
The date the security 31 May 2013
holder resolution
under rule 7.1A was
6b passed
--------------------------------------------
Number of +securities
issued without security
holder approval under
6c rule 7.1 500,000
--------------------------------------------
Number of +securities Nil
issued with security
holder approval under
6d rule 7.1A
--------------------------------------------
Number of +securities Nil
issued with security
holder approval under
6e rule 7.3, or another
specific security
holder approval (specify
date of meeting)
--------------------------------------------
Number of securities Nil
issued under an exception
in rule 7.2
6f
--------------------------------------------
If securities issued N/A.
under rule 7.1A, was
issue price at least
6g 75% of 15 day VWAP
as calculated under
rule 7.1A.3? Include
the issue date and
both values. Include
the source of the
VWAP calculation.
--------------------------------------------
If securities were 5 August 2013
issued under rule
7.1A for non-cash
6h consideration, state
date on which valuation
of consideration was
released to ASX Market
Announcements
--------------------------------------------
Calculate the entity's
remaining issue capacity
under rule 7.1 and
rule 7.1A - complete
Annexure 1 and release
6i to ASX Market Announcements 84,937,193
--------------------------------------------
7 Dates of entering 5 August 2013
+securities into uncertificated
holdings or despatch
of certificates
Number +Class
------------ --------------------
Number and +class
of all +securities
quoted on ASX (including
the securities in Fully paid ordinary
8 section 2 if applicable) 342,248,777 shares.
------------ --------------------
Number +Class
------------ --------------------
Number and +class
of all +securities
not quoted on ASX Options with
(including the securities various expiry,
9 in section 2 if applicable) 15,359,242. prices and dates.
------------ --------------------
10 Dividend policy (in Company has no dividend policy
the case of a trust,
distribution policy)
on the increased capital
(interests)
----------------------------------
Part 2 -- Bonus issue or pro rata issue N/A
11 Is security holder
approval required?
12 Is the issue renounceable
or non-renounceable?
13 Ratio in which the
+securities will be
offered
14 +Class of +securities
to which the offer
relates
15 +Record date to determine
entitlements
16 Will holdings on different
registers (or sub registers)
be aggregated for calculating
entitlements?
17 Policy for deciding
entitlements in relation
to fractions
18 Names of countries
in which the entity
has +security holders
who will not be sent
new issue documents
Note: Security holders
must be told how their
entitlements are to
be dealt with.
Cross reference: rule
7.7.
19 Closing date for receipt
of acceptances or renunciations
20 Names of any underwriters
21 Amount of any underwriting
fee or commission
22 Names of any brokers
to the issue
23 Fee or commission payable
to the broker to the
issue
24 Amount of any handling
fee payable to brokers
who lodge acceptances
or renunciations on
behalf of +security
holders
25 If the issue is contingent
on +security holders'
approval, the date
of the meeting
26 Date entitlement and
acceptance form and
prospectus or Product
Disclosure Statement
will be sent to persons
entitled
27 If the entity has issued
options, and the terms
entitle option holders
to participate on exercise,
the date on which notices
will be sent to option
holders
28 Date rights trading
will begin (if applicable)
29 Date rights trading
will end (if applicable)
30 How do +security holders
sell their entitlements
in full through a broker?
31 How do +security holders
sell part of their
entitlements through
a broker and accept
for the balance?
32 How do +security holders
dispose of their entitlements
(except by sale through
a broker)?
33 +Despatch date
Part 3 -- Quotation of securities
You need only complete this section if you are applying for
quotation of securities
34 Type of securities
(tick one)
(a) X Securities described in Part 1
(b) All other securities
Example: restricted securities at the end of the
escrowed period, partly paid securities that become
fully paid, employee incentive share securities
when restriction ends, securities issued on expiry
or conversion of convertible securities
Entities that have ticked box 34(a)
Additional securities forming a new class of securities
Tick to indicate you are providing
the information or documents
35 If the +securities are +equity securities, the
names of the 20 largest holders of the additional
+securities, and the number and percentage of
additional +securities held by those holders
36 If the +securities are +equity securities, a distribution
schedule of the additional +securities setting
out the number of holders in the categories
1 - 1,000
1,001 - 5,000
5,001 - 10,000
10,001 - 100,000
100,001 and over
37 A copy of any trust deed for the additional +securities
Entities that have ticked box 34(b)
38 Number of securities
for which +quotation
is sought
39 Class of +securities
for which quotation
is sought
-----------------------------
40 Do the +securities
rank equally in all
respects from the date
of allotment with an
existing +class of
quoted +securities?
If the additional securities
do not rank equally,
please state:
* the date from which they do
* the extent to which they participate for the next
dividend, (in the case of a trust, distribution) or
interest payment
* the extent to which they do not rank equally, other
than in relation to the next dividend, distribution
or interest payment
41 Reason for request
for quotation now
Example: In the case
of restricted securities,
end of restriction
period
(if issued upon conversion
of another security,
clearly identify that
other security)
-----------------------------
Number +Class
------------- --------------
42 Number and +class of
all +securities quoted
on ASX (including the
securities in clause
38)
------------- --------------
Quotation agreement
1 +Quotation of our additional +securities is in ASX's absolute
discretion. ASX may quote the +securities on any conditions it
decides.
2 We warrant the following to ASX.
-- The issue of the +securities to be quoted complies with the
law and is not for an illegal purpose.
-- There is no reason why those +securities should not be granted +quotation.
-- An offer of the (+) securities for sale within 12 months
after their issue will not require disclosure under section 707(3)
or section 1012C(6) of the Corporations Act.
Note: An entity may need to obtain appropriate warranties from
subscribers for the securities in order to be able to give this
warranty
-- Section 724 or section 1016E of the Corporations Act does not
apply to any applications received by us in relation to any
+securities to be quoted and that no-one has any right to return
any +securities to be quoted under sections 737, 738 or 1016F of
the Corporations Act at the time that we request that the
+securities be quoted.
-- If we are a trust, we warrant that no person has the right to
return the +securities to be quoted under section 1019B of the
Corporations Act at the time that we request that the +securities
be quoted.
3 We will indemnify ASX to the fullest extent permitted by law
in respect of any claim, action or expense arising from or
connected with any breach of the warranties in this agreement.
4 We give ASX the information and documents required by this
form. If any information or document not available now, will give
it to ASX before +quotation of the +securities begins. We
acknowledge that ASX is relying on the information and documents.
We warrant that they are (will be) true and complete.
Sign here:
............................................................ Date:
5 August 2013
Company Secretary
Print name: David McArthur
== == == == ==
Appendix 3B - Annexure 1
Calculation of placement capacity under rule 7.1 and rule 7.1A
for (+) eligible entities
Introduced 01/08/12
Part 1
Rule 7.1 - Issues exceeding 15% of capital
-----------------------------------------------------------------------------
Step 1: Calculate "A", the base figure from which the
placement capacity is calculated
-----------------------------------------------------------------------------
Insert number of fully paid
ordinary securities on issue
12 months before date of
issue or agreement to issue 289,033,871
-------------------------------------------------------------- -------------
Add the following:
* Number of fully paid ordinary securities issued in
that 12 month period under an exception in rule 7.2
* Number of fully paid ordinary securities issued in
that 12 month period with shareholder approval
* Number of partly paid ordinary securities that became
fully paid in that 12 month period
Note:
* Include only ordinary securities here - other classes
of equity securities cannot be added
* Include here (if applicable) the securities the
subject of the Appendix 3B to which this form is
annexed
39,214,906
* It may be useful to set out issues of securities on
different dates as separate line items 13,500,000
-------------------------------------------------------------- -------------
Subtract the number of fully NIl
paid ordinary securities
cancelled during that 12
month period
-------------------------------------------------------------- -------------
"A" 341,748,777
-------------------------------------------------------------- -------------
Step 2: Calculate 15% of "A"
--------------------------------------------------------------------------------------------
"B" 0.15
[Note: this value cannot be
changed]
------------------------------------------------------------- -----------------------------
Multiply "A" by 0.15 51,262,316
------------------------------------------------------------- -----------------------------
Step 3: Calculate "C", the amount of placement capacity
under rule 7.1 that has already been used
--------------------------------------------------------------------------------------------
Insert number of equity securities
issued or agreed to be issued
in that 12 month period not
counting those issued:
* Under an exception in rule 7.2
* Under rule 7.1A
* With security holder approval under rule 7.1 or rule
7.4
Note:
* This applies to equity securities, unless
specifically excluded - not just ordinary securities
* Include here (if applicable ) the securities the
subject of the Appendix 3B to which this form is
annexed
* It may be useful to set out issues of securities on
different dates as separate line items 500,000
------------------------------------------------------------- -----------------------------
"C" 500,000
------------------------------------------------------------- -----------------------------
Step 4: Subtract "C" from ["A" x "B"] to calculate remaining
placement capacity under rule 7.1
--------------------------------------------------------------------------------------------
"A" x 0.15
Note: number must be same
as shown in Step 2 51,262,316
------------------------------------------------------------- -----------------------------
Subtract "C"
Note: number must be same
as shown in Step 3 500,000
------------------------------------------------------------- -----------------------------
Total ["A" x 0.15] - "C" 50,762,316
------------------------------------------------------------- -----------------------------
Part 2
Rule 7.1A - Additional placement capacity for eligible
entities
--------------------------------------------------------------------------------------------
Step 1: Calculate "A", the base figure from which the
placement capacity is calculated
--------------------------------------------------------------------------------------------
"A"
Note: number must be same
as shown in Step 1 of Part
1 341,748,777
-------------------------------------------------------------- ----------------------------
Step 2: Calculate 10% of "A"
--------------------------------------------------------------------------------------------
"D" 0.10
Note: this value cannot be
changed
-------------------------------------------------------------- ----------------------------
Multiply "A" by 0.10 34,174,877
-------------------------------------------------------------- ----------------------------
Step 3: Calculate "E", the amount of placement capacity
under rule 7.1A that has already been used
--------------------------------------------------------------------------------------------
Insert number of equity securities Nil
issued or agreed to be issued
in that 12 month period under
rule 7.1A
Notes:
* This applies to equity securities - not just ordinary
securities
* Include here - if applicable - the securities the
subject of the Appendix 3B to which this form is
annexed
* Do not include equity securities issued under rule
7.1 (they must be dealt with in Part 1), or for which
specific security holder approval has been obtained
* It may be useful to set out issues of securities on
different dates as separate line items
-------------------------------------------------------------- ----------------------------
"E" Nil
-------------------------------------------------------------- ----------------------------
Step 4: Subtract "E" from ["A" x "D"] to calculate remaining
placement capacity under rule 7.1A
----------------------------------------------------------------
"A" x 0.10
Note: number must be same
as shown in Step 2 34,174,877
--------------------------------------------- -----------------
Subtract "E" Nil.
Note: number must be same
as shown in Step 3
--------------------------------------------- -----------------
Total ["A" x 0.10] - "E" 34,174,877
--------------------------------------------- -----------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
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