3.95mill raised ----Qtr report gold costs down $200 per oz
Ramelius Resources Limited (ASX: “RMS”) advises that the Company’s 1-for-4 non renounceable Entitlement Offer closed on 25 July 2014.
Applications received under the offer were for 59,580,184 ordinary shares totalling $3,872,712. In addition, pursuant to Underwriting Agreements between the Company and Directors as detailed in the Entitlement Offer Prospectus, the Company will receive additional applications for 1,200,000 shares totalling $78,000.
Pursuant to ASX Listing Rule 7.40 and Appendix 7A, the Company hereby gives notice of a shortfall in subscriptions of 38,733,067 shares.
Under the terms of the Entitlement Offer, the Directors may issue the shortfall shares at their discretion within 3 months of the Offer close date.
The Board of Directors expresses its appreciation to all participating shareholders for the strong support shown under the Entitlement Offer.
Ramelius Chief Executive, Mr Mark Zeptner, today said, “The take up of the Entitlement Offer has been highly encouraging in what is currently a tough market for gold equities and gives Ramelius confidence that it will also be able to successfully place the shortfall.”