Perth, June 19, 2009 (ABN Newswire) - Exco Resources Limited (ASX:EXS)(PINK:EXRSF) is pleased to announce that it has today issued 30,650,000 shares at 23.5 cents each (Securities) to institutional and sophisticated investors to raise A$7,202,750 before expenses.
These Securities were issued pursuant to the placement announced on 11 June 2009.
With its required equity contribution in place, the Company will now move to immediately finalise the joint venture agreement documentation for the White Dam Gold Project with Polymetals Group Pty Ltd and complete the previously announced negotiations with interested parties in relation to debt financing.
In addition, the joint venture partners will commence a programme of preliminary site activities which will keep the project on track to deliver first gold production early in 2010.
Notice Given under Section 708A(5)(e) of the Corporations Act 2001
The Company gives notice under section 708A(5)(e) of the Corporations Act 2001 (Cth) (Act) that:
a) the Company intends to issue the Securities without disclosure to investors under Part 6D.2 of the Act;
b) as at today's date, the Company has complied with:
i) the provisions of Chapter 2M of the Act as they apply to the Company; and
ii) section 674 of the Act; and
c) there is no "excluded information" within the meaning of sections 708A(7) and 708A(8) of the Act which is required to be disclosed under section 708A(6)(e) of the Act.
About Exco Resources Limited
Exco is an Australian focused ASX-listed mining company (ASX:EXS)(PINK:EXRSF) with a dual focus on developing both the White Dam Gold Project in South Australia, and the Cloncurry Copper Project (CCP) in north-west Queensland. In addition, the Company has renewed its exploration efforts at the highly prospective Hazel Creek Project, also in north-west Queensland.
Contact
Michael Anderson Managing Director Phone +61-8-9211-2000
Eamon Byrne Company Secretary Phone +61-8-9211-2000
Exco Resources Limited
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