Canberra, Australia -
Alt Resources Ltd. (ASX:ARS) is pleased to advise that, further to its ASX announcement of 5 August 2019, the Company has now settled Tranche 1 of its $4m placement to investors qualifying under Section 708 of the Corporations Act 2001 (Cth) via the issue of 85,000,000 shares.
Alt Resources received $2,125,000 (before issue costs). These funds will be primarily used for the ongoing development of the Company's Mt Ida and Bottle Creek Gold Prejects; vendor payment(s) and for general working capital.
47,200,000 Shares were issued using the Company's available placement capacity under ASX Listing Rule 7.1 and 37,800,000 Shares were issued using the Company's available placement capacity under ASX Listing Rule 7.1A. The remaining placement shares (tranche 2) will be issued subject to shareholder approval at a meeting to be called for around 12 September 2019.
About Alt Resources Ltd:
Alt Resources Ltd. (ASX:ARS) is an Australian based mineral exploration company that aims to become a gold producer by exploiting historical and new gold prospects across quality assets and to build value for shareholders. The Company's portfolio of assets includes the newly acquired Bottle Creek gold mine located in the Mt Ida gold belt in South Central WA 95km north west of Menzies, the Paupong IRG Au-Cu-Ag mineral system in the Lachlan Orogen NSW, Myalla polymetallic Au-Cu-Zn project east of Dalgety in NSW and the Mt Roberts gold project located near the town of Leinster in WA.
Alt Resources, having acquired historical and under-explored tenements in the Mt Ida Gold Belt, aims to consolidate the historical resources, mines and new gold targets identified within the region. Potential at Mt Ida exists for a centralised production facility to service multiple mines and to grow the Mt Ida Gold Belt project to be a sustainable and profitable mining operation.
Source:
Alt Resources Ltd.
Contact:
James Anderson CEO Alt Resources Ltd. E: james.anderson@altresources.com.au Peter Nesveda Investor Relations & Corporate Affairs E: peter@intuitiveaustralia.com.au M: +61-412-357-375
