WHERE HAS ALL THIS CASH GONE...............AIM Resources...

WHERE HAS ALL THIS CASH GONE...............

AIM Resources announces A$25m financing plan for exploration, development
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By: Olivia Soraya Spadavecchia
Published on 3rd December 2007
ASX-listed AIM Resources has finalised the details of a revised A$25-million convertible debenture offering, the company reported on Monday.

The company explained that the funds would be used to fund ongoing exploration and development of its Perkoa zinc mine, in Burkina Faso, and other exploration.

AIM has priced, allocated and revised the size of its proposed convertible debenture financing that was initially announced on the November 8.

Under the revised offering, the company would issue A$25-million of convertible debentures that would pay interest of 9,75%, payable semi-annually, and would be convertible into ordinary AIM Resources shares at a price of A$0,22 a share.

In an emailed statement, AIM Resources explained that the debentures would mature in five years plus one day from the closing of the offering.

Westwind Partners is acting as lead agent for a syndicate in respect of the offering and have been granted an option to sell an additional A$7-million of debentures on the same terms as the offering, exercisable at any time prior to 30 days after closing of the offering.

The offering is scheduled to close on or about December 20, 2007.