Alcyone secures $7.4 million under Entitlement Offer and shortfall, exceeding $6 million minimum


· Alcyone recommences crushing at Texas Silver Project with view to reinstating production
Alcyone Resources (ASX: AYN) ("Alcyone" or the "Company") advises it has received valid applications for its 2 for 1 pro-rata non-renounceable entitlement offer ("Entitlement Offer") and shortfall for approximately $7.4 million, with 635,846,562 shares and 317,923,281 free attaching options applied for under the rights Issue and a further 848,588,975 shares and 424,294,488 free attaching options applied for under the shortfall offer, for a total subscription of 1,484,435,537 shares and 742,217,769 free options as at the date of this announcement.
The maximum number of shares that could have been subscribed for under the Entitlement Offer was 3,250,185,432 Shares, along with 1,625,092,716 free attaching options. Accordingly, the remaining shortfall as at the date of this announcement is 1,765,749,895 shares and 882,874,948 free attaching options.

Completion of the Rights Issue and allocated shortfall is scheduled for Tuesday, 13thAugust 2013, subject to satisfaction of the outstanding conditions to either the Preciosa or Powerline silver purchase agreements. The Company is continuing to work towards satisfaction of these conditions and will update the market as necessary.

The Company is also pleased to announce that Crushing operations at the Twin Hills Mine have recommenced, with the Company expecting to resume silver recoveries in the short term following completion of the Entitlement Offer.
The timetable for completion is as follows:

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