Pretty impressive:ydney - Monday - July 28: (RWE Australian...

Pretty impressive:

ydney - Monday - July 28: (RWE Australian Business News) -
Strike Resources Ltd (ASX:SRK) today announced a $103m ($US100m)
placement to Gallagher Holdings Ltd of about 37.48m shares at $2.75.
The price represents a 39pc premium to Strike's closing share
price on July 24 and a 33pc premium to the volume weighted average price
of Strike shares traded over the month preceding this announcement.
Gallagher is the investment holding company for the interests of
Russian businessman Mr Alisher Usmanov. Its main interests are in mining
and steel, telecommunications, media and leisure.
Gallagher has nominated its chairman, Mr Farhad Moshiri, to join
the Strike board as a non-executive director upon completion of the
first tranche of the placement.
The placement will occur in two tranches, of $49.7m and $53.4m.
The first tranche will proceed shortly, with completion of the
second tranche being subject to Strike shareholder approval, Foreign
Investment Review Board (FIRB) approval and completion of due diligence
by Gallagher.
Funds raised will be used primarily for development of Strike's
flagship 20m tonnes per annum (Mtpa) iron ore project in Peru, and will
also be used to expedite development of Strike's 1-2 Mtpa Cuzco Lump
Project in Peru (with first production scheduled for 2009/10).