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Olympia Resources Appoints BurnVoir Corporate Finance
Sydney, Mar 13, 2006 (ABN Newswire) - Olympia Resources Ltd (ASX: OLY) is pleased to announce it has appointed BurnVoir Corporate Finance Limited as financial adviser and arranger of debt finance for the development of the Keysbrook Mineral Sands Project in Western Australia.
Olympia is progressing quickly towards project development. The Bankable Feasibility Study for the Keysbrook Project is completed, and long-term titanium and zircon supply contracts have been signed with DuPont and a major European zircon miller respectively. Construction is proposed to commence in July 2006 and mining at Keysbrook targeted to commence in early 2007.
BurnVoir brings considerable experience in arranging debt finance in the resources sector, most recently having arranged a A$160 million project recourse debt funding package for an ASX-listed coal company's underground longwall development.
About BurnVoir Corporate Finance
BurnVoir Corporate Finance is a Sydney based independent advisory firm focused on providing advice for resources, energy and infrastructure sector participants. Recent transactions undertaken by BurnVoir include:
- arranger of $230m in project recourse debt for the Tarong North Power Station;
- financial adviser to an ASX-listed iron ore producer in WA on the financing of a $1bn magnetite concentrate and iron ore pellet project;
- advising the Queensland Government on the acquisition of the Western Australian freight network by Queensland Rail; and
- financial adviser and arranger of debt for a 45MW Perth BioEnergy Project to be located at the Neerabup Industrial Estate north of Perth.
About OLYMPIA RESOURCES LIMITED
Olympia Resources (ASX: OLY) is a Western Australian ASX-listed company focused on the exploration and development of a range of resource projects. OLY is developing the Harts Range Abrasives deposit Olympia Resources Limited near Alice Springs in the Northern Territory and plans to begin mining heavy mineral sands at the Keysbrook Project in the South-Western Australia in early 2007. OLY has also confirmed the existence of potentially significant gold mineralisation at Bruce's Prospect in the Northern Territory.
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