Issue of Securities Complete
The new shares relate to options, exercisable at 17 cents and expiring on 31 August 2018, issued as part of a placement and share purchase plan in September 2016.
A total of 4,792,179 of these options were exercised by holders adding $814,670 to the Company's cash reserves.
The balance lapsed on 31 August 2018.
The Company's capital structure following the exercise of the listed options is now as follows:
Listed Shares: 235,388,464 Fully Paid Ordinary
Unlisted Options: 500,000 (IRCAI) Exercise Price $0.25, Expiry 31 August 2019
Commenting on the option exercise, Intermin Managing Director Jon Price said:
"We thank holders for their continued support which, together with cash flow from our Teal Gold Mine, places the Company in a strong financial position to deliver on its strategy of self-funding future mine developments, consolidating assets in the Western Australian Goldfields, growing our existing Resource base and continuing the search for the next new gold discovery,"
An ASX Appendix 3B Application for Quotation of Additional Securities is attached (see link below) in relation to the final securities issued.
To view Appendix 3B and tables, please visit:
About Intermin Resources Limited
Intermin Resources Limited (ASX:IRC) is a gold exploration and mining company focussed on the Kalgoorlie and Menzies areas of Western Australia which are host to some of Australia's richest gold deposits. The Company is developing a mining pipeline of projects to generate cash and self-fund aggressive exploration, mine developments and further acquisitions. The Teal gold mine has been recently completed.
Intermin is aiming to significantly grow its JORC-Compliant Mineral Resources, complete definitive feasibility studies on core high grade open cut and underground projects and build a sustainable development pipeline.
Intermin has a number of joint ventures in place across multiple commodities and regions of Australia providing exposure to Vanadium, Copper, PGE's, Gold and Nickel/Cobalt. Our quality joint venture partners are earning in to our project areas by spending over $20 million over 5 years enabling focus on the gold business while maintaining upside leverage.
Intermin Resources Limited