OLY 0.00% 4.0¢ olympio metals limited

I'm not interested in the uranium at this stage - but I really...

  1. 23,992 Posts.
    lightbulb Created with Sketch. 1
    I'm not interested in the uranium at this stage - but I really think the rights issue is a beauty and if you tuck away the free option for a while and take the bonus shares, I think it's going to be a sweet little deal mid term.

    Todays rights issue ann is the one I like - forget the uranium for now - think we'll see more action on this over the coming week as they get some dates out to market. Full confidence of underwriting by Patersons also says there is market confidence in their future.

    We've seen Mineral Sands become very profitable for other companies - and a U deal thrown in should give us some good mid term benefits.
    The market took a bashing today, but I expect this to have a nice bounce when the timetable is released.

    Ann:
    O L Y M P I A
    RESOURCES LIMITED
    ABN 52 077 221 722
    Office – Level 4, 25 Walters Drive Herdsman WA 6016
    Tel: (08) 92441411 Fax: (08) 92441511
    Postal Address: PO Box 1341 Osborne Park WA 6916
    Website: www.olympiaresources.com
    11 May 2007
    The Manager
    Australian Stock Exchange Limited (“ASX”)
    Company Announcements Office
    Dear Sir
    Fully Underwritten Renounceable Rights Issue
    Olympia Resources Limited is pleased to announce a renounceable rights issue (Rights
    Issue) to raise approximately $3.2 million before costs. The Rights Issue offers two new
    shares and one free attaching option for every seven shares held at an application price of 10
    cents per share. The new options will have an exercise price of 20 cents and an expiry date
    of 30 June 2010. The Company will apply for the quotation of new shares and new options
    on ASX.
    The Rights Issue is fully underwritten by Patersons Securities Limited and Olympia
    Resources has incorporated a top up facility whereby eligible shareholders may apply for
    additional shares in excess of their entitlement at the issue price. Additional shares will
    only be available to the extent that other eligible shareholders do not take up their
    entitlements.
    The funds raised will be used to fund the development of the Company’s projects,
    exploration and for working capital.
    The Prospectus relating to this Rights Issue is expected to be lodged with ASIC and ASX on
    Friday, 11 May 2007 and will be available after lodgement on the ASX website
    www.asx.com.au and also on the Company’s website www.olympiaresources.com. An
    Appendix 3B will be lodged with the ASX in due course.
    Yours faithfully
    Peter Gazzard
    Managing Director


 
watchlist Created with Sketch. Add OLY (ASX) to my watchlist
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.