26.6% Entitlement equities taken up 40.4% Additional shares...

26.6% Entitlement equities taken up
40.4% Additional shares subscribed

67.0% total

Raised $591k
Shortfall $308k


From:

• Release Date: ASX 27/06/14
• Entitlement Issue Prospectus

If less than $899,102 is raised, the Company intends to apply the amount
raised from the Rights Issue:
first to the costs of the Offer,
and thereafter as a priority to items 1 and 3:

1. Drill test the IP/gravity anomaly on the Parndana Project $450,000
2. Undertake reconnaissance exploration on the western Gawler Craton project $200,000
3. General working capital $149,102
4. Expenses of the Offer $100,000
TOTAL $899,102

Thus:
Expenses of offer/raised capital at this stage = 100/(899-308),
= 100/591
= 17%

The western Gawler Craton project is a new project that Monax is targeting potential nickelcopper style mineralisation similar in style to the Sirius Resources Nova Deposit. The
western Gawler Craton project is located within the Fowler Domain which shares a similar
geological setting to the Albany Fraser Belt, which hosts the Nova Deposit