By Sheri Kasprzak
New York, Oct. 25 - Resources Mining Corp. Ltd. said it has completed a private placement of stock for A$1.6 million.
The company issued 20 million shares at A$0.08 each to a group of sophisticated investors, including Stemcor Australia, Sinom (Hong Kong), Anchorage Holdings and Euroz Securities.
Each share came with an attached option for another share, exercisable at A$0.10 each through April 30, 2006.
The proceeds from the offering will be used to advance the company's Argyle iron ore project.
Based in Perth, Western Australia, Resource Mining is a mineral exploration company.
| Issuer: | Resource Mining Corp. Ltd.
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| Issue: | Stock
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| Amount: | A$1.6 million
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| Shares: | 20 million
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| Price: | A$0.08
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| Options: | One option per share
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| Option expiration: | April 30, 2006
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| Option price: | A$0.10
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| Investors: | Stemcor Australia, Sinom (Hong Kong), Anchorage Holdings, Euroz Securities
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| Settlement date: | Oct. 25
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| Stock price: | A$0.08 at close Oct. 25
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