Brisbane, June 10, 2009 (ABN Newswire) - On 26 March 2009, the Directors of D'Aguilar Gold Limited (ASX:DGR) announced that the Company was planning to undertake a share purchase plan ("Plan").
The Plan opened on 22 April 2009 and involved the offer of a maximum of 45,714,286 new shares at an issue price of A$0.035 potentially raising a maximum of A$1,600,000. The issue was underwritten to the extent of 17,142,857 shares at 3.5 cents each, guaranteeing a minimum raising of A$600,000.
Eligible shareholders were entitled to take up, at their election, either A$3,000 or A$5,000 worth of new shares.
The Directors advise that the Plan closed at 5.00pm (Brisbane time) on 5 June 2009, with shareholders contributing a total of A$639,000. This means that the minimum guaranteed raising was exceeded, and that no shares will therefore be issued to the underwriter of the Plan.
Proceeds from the Plan will, together with funds raised from the recent placement undertaken by the Company, provide working capital to pay current creditors, meet the costs of the Plan, progress the Company's ongoing business plan to list its project based subsidiary companies and progress the identification and initial exploration of new projects.
It remains the Company's intention to issue the shares under the Plan on or about 19 June 2009.
The Directors are very pleased with this result, and would like to thank shareholders for their support of the Share Purchase Plan.
About D'Aguilar Gold Limited
D’Aguilar Gold Limited (ASX:DGR) is focused on generating exploration and development companies in a wide array of minerals.
Projects are conceived directly through the skills and experience of D’Aguilar’s accomplished team of exploration geoscientists (with an enviable track record), not by the costly purchase of properties. Each project or exploration strategy is held in a separate subsidiary.
Focused and specialist management is then engaged in the subsidiary, with project specific finance raised in the subsidiary – faster and less dilutive to D’Aguilar. As the subsidiary project develops and starts to derisk the subsidiary is separately capitalised (seed raisings followed by an IPO).
Investors can choose to invest specifically in a particular project/commodity, or by investing in D’Aguilar, invest in the resource company generating business which retains a significant carried interest in each project.
D’Aguilar projects tend to be very large, targeting new provinces with the potential to make world-class discoveries. The exploration concepts are often novel. While increased metal prices and advances in technology can turn former sub-economic deposits into viable projects, D’Aguilar subsidiary projects frequently emerge from detailed reassessment and reinterpretation of large databases – looking at things from a new angle and with a different focus using state of the art techniques. The D’Aguilar Directors and Managers have in the past applied new exploration models to extensive tenement areas which have led to identification of new mineral provinces and the discovery of nationally significant resources. Similar efforts are now being dedicated to D’Aguilar.
Contact
KM Schlobohm Company Secretary Tel: +61-7-3303-0680 Fax: +61-7-3303-0681
D'Aguilar Gold Limited
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