For the record here was the announcement:
JACKSON GOLD LIMITED 2003-06-27 ASX-SIGNAL-G
HOMEX - Perth
+++++++++++++++++++++++++
Jackson Gold Limited (ASX Codes: JAK, JAKO) is pleased to announce
the placement of 5 million ordinary shares in the Company at 18 cents
each to professional investors to raise $900,000. Investors will also
be issued one free Option for every two Ordinary shares subscribed,
which will be subject to the same terms and conditions as the
existing listed options.
Funds raised from this placement will be used to provide additional
working capital for continued aggressive exploration of the Wallbrook
Project, located 125km northeast of Kalgoorlie. Drilling of advanced
targets is expected to commence at Wallbrook in mid July primarily to
define the extent of known mineralisation.
Wallbrook is the Company's main project and includes:
* A current resource inventory of 188,000 ounces of gold;
* Discovery costs of $5 per resource ounce;
* Significant exploration upside centred on the 7km long and 3km wide
Wallbrook granite;
* Located within a 3 million ounce goldfield; and
* A number of potential development options.
The Company continues to advance negotiations for the development and
exploration of the Claypan Dam Project, as well as seeking Joint
Venture participants for its other projects.
The Company advises the ASX that this announcement will end the
trading halt of the Company's securities on ASX and requires ASX to
re-quote all quotable securities on ASX to be effective Friday 27
June 2003. The Company is not aware of any reason why the trading
halt should not be lifted. The Company is not aware of any other
information necessary to inform the market about lifting the trading
halt.
A Viner
MANAGING DIRECTOR
JAK
jackson minerals limited
