Bottle Creek Funding Proposal
Bottle Creek Funding Proposal

Canberra, Oct 11, 2019 AEST (ABN Newswire) - Alt Resources Limited (googlechartASX:ARS) (the Company) wishes to provide the following update regarding a funding proposal announced to the market on 19th September 2019.

As announced, the Company entered into a non-binding term sheet for a Convertible Note funding package (Convertible Note) with Collins Street Value Fund (CSVF). The non-binding term sheet was subject to final long form documents and other conditions precedent.

The Company wishes to advise that the proposed Convertible Note is not proceeding and the Company is assessing alternative funding sources for the Mt Ida and Bottle Creek Gold Project including but not limited to small-scale toll treatment mining operations.

Following completion of a $4.0 million capital raising, announced on the 5th August 2019,2 the Company remains in a strong financial position and is fully funded for its current operations.

The Company expects to provide an update to the market on its current drilling program and the ongoing evaluation of its development plans at the Mt Ida and Bottle Creek projects in the near term. Further details will be provided to the market as they come to hand.


About Aurenne Alt Resources Pty Ltd

Aurenne Alt Resources Pty Ltd is an Australian based mineral exploration company that aims to become a gold producer by exploiting historical and new gold prospects across quality assets and to build value for shareholders.

abnnewswire.com 


Contact

Andrew Sparke
Executive Director
Email: andrew@altresources.com.au

Peter Nesveda
Investor Relations and Corporate Affairs
Mob: +61 (0) 412 357375
Email: peter@intuitiveaustralia.com.au



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