Perth, April 7, 2009 (ABN Newswire) - Stirling Resources Limited (ASX:SRE) yesterday offered shareholders to participate in further growth of the company with a letter to the shareholders for a Share Purchase Plan (SPP). This letter was sent by the Managing Director - Michael Kiernan.
Share Purchase Plan
I am writing to offer you the opportunity to increase your shareholding in Stirling Resources Limited, and further participate in our growth as a diversified Australian resources developer.
Stirling has announced a Share Purchase Plan (SPP), which allows all eligible shareholders to purchase additional shares in Stirling at A$0.02 per share. Shareholders are entitled to purchase up to A$5,000 worth of shares without incurring brokerage or other transaction costs and at the same time become eligible for a bonus loyalty option allocation. The bonus loyalty options are a unique and rewarding offer to those shareholders who maintain loyalty with the Company Stirling has achieved a lot in the past six months, and we have a prime opportunity in the current market to acquire high quality assets at substantially reduced costs.
Pipeline of projects: Stirling has already seized a number of opportunities. This has included a major interest in high grade copper producer Redbank Mines (ASX:RBM), and the acquisition of zircon assets in northern Australia. We believe the long term outlook for commodities such as iron ore, coking coal, zircon, copper and gold is bright, and we have identified further potential projects.
Strong management team: We have put together an executive team and Board that has considerable resources experience, and an established track record of creating significant shareholder value. Furthermore, we have cemented strong strategic partnerships with world leading organisations.
World class partners: Our partners include major shareholder and global commodity marketing company DCM DECOmetal, and leading Indian resources organisation NMDC Limited. These partnerships provide us with global market reach, and access to international expertise and resources to develop a growing portfolio of projects.
Solid financial position: Stirling is in a strong cash position, having raised A$4.8 million in February through a convertible note and share placement to DCM.
As the Company moves to capitalise on the current market opportunities, the Board is pleased to provide you with the opportunity to participate in the SPP.
Attached is a copy of the SPP Offer Document and should you like the opportunity to top up your investment you simply need to complete the attached form and return it with payment in the replied paid envelope before 15 April 2009.
I welcome calls from shareholders and can be contacted at Stirling's offices. I believe Stirling is well positioned for growth, and I look forward to our future with much enthusiasm.
Michael Kiernan
Managing Director
- Ends -
For the full Shareholder Purchase Plan please see the link below;
http://www.abnnewswire.net/media/en/docs/60446-ASX-SRE-442783.pdf
Share Purchase Plan
I am writing to offer you the opportunity to increase your shareholding in Stirling Resources Limited, and further participate in our growth as a diversified Australian resources developer.
Stirling has announced a Share Purchase Plan (SPP), which allows all eligible shareholders to purchase additional shares in Stirling at A$0.02 per share. Shareholders are entitled to purchase up to A$5,000 worth of shares without incurring brokerage or other transaction costs and at the same time become eligible for a bonus loyalty option allocation. The bonus loyalty options are a unique and rewarding offer to those shareholders who maintain loyalty with the Company Stirling has achieved a lot in the past six months, and we have a prime opportunity in the current market to acquire high quality assets at substantially reduced costs.
Pipeline of projects: Stirling has already seized a number of opportunities. This has included a major interest in high grade copper producer Redbank Mines (ASX:RBM), and the acquisition of zircon assets in northern Australia. We believe the long term outlook for commodities such as iron ore, coking coal, zircon, copper and gold is bright, and we have identified further potential projects.
Strong management team: We have put together an executive team and Board that has considerable resources experience, and an established track record of creating significant shareholder value. Furthermore, we have cemented strong strategic partnerships with world leading organisations.
World class partners: Our partners include major shareholder and global commodity marketing company DCM DECOmetal, and leading Indian resources organisation NMDC Limited. These partnerships provide us with global market reach, and access to international expertise and resources to develop a growing portfolio of projects.
Solid financial position: Stirling is in a strong cash position, having raised A$4.8 million in February through a convertible note and share placement to DCM.
As the Company moves to capitalise on the current market opportunities, the Board is pleased to provide you with the opportunity to participate in the SPP.
Attached is a copy of the SPP Offer Document and should you like the opportunity to top up your investment you simply need to complete the attached form and return it with payment in the replied paid envelope before 15 April 2009.
I welcome calls from shareholders and can be contacted at Stirling's offices. I believe Stirling is well positioned for growth, and I look forward to our future with much enthusiasm.
Michael Kiernan
Managing Director
- Ends -
For the full Shareholder Purchase Plan please see the link below;
http://www.abnnewswire.net/media/en/docs/60446-ASX-SRE-442783.pdf
About Stirling Resources Limited
Stirling Resources Limited (ASX:SRE) is a West Australian resources developer focusing on investment and development of copper, zircon, coking coal, gold and iron ore projects. The Company consists of highly experienced resource development and mining personnel with track records of creating shareholder value.
Previously the group took control of a financially distressed manganese producer and developed it into a diverse mineral commodity producer to become included in the ASX 200 and was ultimately taken over by an international conglomerate for A$1.25b. The Company grew from being a small unreliable manganese producer to ultimately supplying 10% of the world's high grade manganese to global customers and developed significant projects in chromite, nickel, copper, zinc and iron ore.
The Company's strategy for creating shareholder value is to identify projects that comprise either commodities that are considered to have strong future demand or geological characteristics that have potential and yet for various reasons have not achieved their possibilities. The focus is on brown fields projects close to development or production.
Driven by the underlying fundamentals of the Chinese economy and the continued massive urbanisation process commodities such as copper, zircon, gold and iron ore will continue to be in strong future demand. The Chinese growth is augmented by the Indian economic growth particularly in the steel industry leading to increasing demands of coking coal.
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