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Indochine Mining Ltd Announces Retail Entitlement Offer


Monday, 14 Oct 2013 08:45pm EDT 

Indochine Mining Ltd announced the non-accelerated component of a 2-for-5 accelerated non-renounceable pro rata Entitlement Offer of New Shares in Indochine at an Issue Price of $0.070 per share (Retail Entitlement Offer). This means that the eligible shareholders will have the opportunity to purchase two New Shares at $0.070 per New Share for every five Indochine Shares they own on October 10, 2013. This offer to you is part of the Entitlement Offer to raise up to approximately $24.63 million announced by Indochine on October 3, 2013. Approximately $5.5 million was raised in the accelerated institutional component of the Entitlement Offer and the Placement to existing Institutional Shareholders and new Institutional Investors. Indochine is seeking to raise the remaining $20.8 million through the Retail Entitlement Offer to which this Retail Offer Booklet relates. The proceeds of the Entitlement Offer would be used to fund underground drilling, underground adit development, the first part of a feasibility study and environmental study with a focus on the treatment plant design, together with bulk samples for metallurgical testwork and the completion of a Landowner Investigation Report, at the Company's Mount Kare project, as well as for working capital. The aim is to develop between 800-1200m of underground development, ~10,000m of drilling and increase the size and contained gold ounces of the high grade zones. 

Company Quote

0.019
-0.0010 -5.00%
30 Sep 2014