ASX RELEASE 1 Jul 2014
IFC Placement, Tranche 1 CompletedCrusader Resources Limited ("Crusader" or "Company") is pleased to advise that tranche 1 of the placement to the International Finance Corporation ("IFC") has been completed. The Company raised $3.277M under tranche 1, issuing 11,300,000 fully paid ordinary shares and 5,650,000 unlisted options (exercisable at
$0.41 each, expiring on 30 June 2018). The Appendix 3B for this issue follows.
Tranche 2 of the placement (2,493,100 fully paid ordinary shares and 1,246,550 unlisted options (exercisable at $0.41 each, expiring in 4 years) is expected to be completed in early August following a General Meeting of Shareholders to approve the placement.
For further information please contact:
Australian Securities
Exchange Information
ASX Code: CAS
Ordinary Shares 137,946,041
Options 20,122,000
(exercise prices: $0.3414 to $1.35)
Market Capitalisation ~$48M Treasury $2.9M (31 Mar 2014) Share price $0.35
(12 month closing range: $0.19 to
$0.365)
Board of Directors
Non-Executive Chairman
Stephen Copulos
Managing Director
Rob Smakman
Executive Director
Paul Stephen
Non-Executive Directors
John Evans
David Netherway
Mauricio Ferreira
Mr. Rob Smakman | Mr. Paul Stephen | Mr. Ian Howarth |
Managing Director, Brazil | Executive Director, Australia | Media Relations, Australia |
Mobile (Brazil): +55 83 8881 8608 | Office (Aus): +61 8 9320 7500 | Collins Street Media |
Email: rob@crusaderdobrasil.com | Email: paul@crusaderresources.com | Mobile: +61 407 822 319 E: ian@collinsstreetmedia.com.au |
ASX RELEASE 1 Jul 2014
About Crusader
Crusader Resources Limited (ASX:CAS) is a minerals exploration and mining company listed on the Australian Securities Exchange. Its major focus
is Brazil; a country Crusader believes is vastly underexplored and which offers high potential for the discovery of world class mineral deposits. Crusader has three key assets:
1. Posse Iron Ore Mine - Operating iron ore mine in Minas Gerais state, south-eastern Brazil. Producing high-quality iron ore for consumption in the Brazilian domestic iron industry.
2. Borborema Gold Development Project in north-eastern Brazil, containing 2.43Moz Au in JORC resources and 4,500 km2 of exploration tenements in the Seridó Belt.
3. Juruena Gold Exploration Project - 50km of strike over the Juruena-Alta Floresta Gold Belt. Crusader is focussed on several high-grade gold targets which could yield an economically developable mine.
About Posse
The Posse Iron Ore Mine is located 30km from Belo Horizonte, a city acknowledged as the mining capital of Brazil and the capital of Minas Gerais
state. The project has an indicated and inferred Mineral Resource estimate of 36Mt @ 43.5% Fe.
Posse is currently selling DSO into the domestic market and has been cash flow positive since the July 2013.
With an experienced mining workforce amongst a population of over 2.3 million people, the infrastructure and access to the domestic steel
market around the Posse Project is excellent. Drilling and expansion studies are currently underway.
About Borborema
The Borborema Gold Project is in the Seridó area of the Borborema province in north-eastern Brazil. It is 100% owned by Crusader and consists of three mining leases covering a total area of 29 km² including freehold title over the main prospect area.
The Borborema Gold Project benefits from a favourable taxation regime, existing on-site facilities and excellent infrastructure such as buildings, grid power, water, sealed roads and is close to major cities and regional centres. The project's Maiden Ore Reserve was announced in November
2012. Proven and Probable Ore Reserves of 1.61Moz of mineable gold from 42.4Mt @ 1.18g/t (0.4 & 0.5g/t cut-offs for oxide & fresh).
The measured, indicated and inferred Mineral Resource Estimate of 2.43Moz @ 1.10g/t gold, remains open in all directions.
A Pre-Feasibility Study (PFS), completed in September 2011, into the economic and technical merits of the Borborema Gold Project, revealed a
robust investment case based on an open cut mine development of 3Mtpa. A Bankable Feasibility Study is underway.
About Juruena
The Juruena Gold Project represents an exciting exploration opportunity, with multiple high-grade targets, within giant gold in-soil anomalies. The project is located in the highly prospective Juruena-Alta Floresta Gold Belt, which stretches east-west for >400km and has historically produced more than 7Moz of gold from 40 known gold deposits.
The Juruena Project has been worked extensively by artisanal miners (garimpeiros) since the 1980s, producing ~500koz in that time. Historically there is a database of more than 30,000 meters of drilling and extensive geological data. Crusader acquired the project in mid-2014 and is fully funded to complete a drilling program capable of defining a maiden resource.
Appendix 3B New issue announcement
Appendix 3BRule 2.7, 3.10.3, 3.10.4, 3.10.5
New issue announcement, application for quotation of additional securities and agreementInformation or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.
Introduced 01/07/96 Origin: Appendix 5 Amended 01/07/98, 01/09/99, 01/07/00, 30/09/01, 11/03/02, 01/01/03, 24/10/05, 01/08/12,
04/03/13
Name of entity
Crusader Resources Limited
ABN
94 106 641 963
We (the entity) give ASX the following information.
Part 1 - All issuesYou must complete the relevant sections (attach sheets if there is not enough space).
1 +Class of +securities issued or to be issued
Fully paid Ordinary Shares and Unlisted
Options
2 Number of +securities issued or to be issued (if known) or maximum number which may be issued
Ordinary Shares 11,300,000
Unlisted Options 5,650,000
3 Principal terms of the
+securities (e.g. if options,
exercise price and expiry date; if partly paid +securities, the amount outstanding and due dates for payment; if
+convertible securities, the
conversion price and dates for
conversion)
Fully paid Ordinary Shares
Unlisted Options Exercise Price: $0.41 each Expiry Date: 30 June 2018
+ See chapter 19 for defined terms.
04/03/2013 Appendix 3B Page 1
Appendix 3B
New issue announcement
4 Do the +securities rank equally in all respects from the +issue date with an existing +class of quoted +securities?
If the additional +securities do not rank equally, please state:
• the date from which they do
• the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment
• the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment
Ordinary Share rank equally
Options are not quoted
5 Issue price or consideration $3,277,000
6 Purpose of the issue
(If issued as consideration for
the acquisition of assets, clearly
identify those assets)
To fund the Company's development program in Brazil and general corporate purposes.
6a Is the entity an +eligible entity No that has obtained security holder approval under rule 7.1A?
If Yes, complete sections 6b - 6h in relation to the +securities the subject of this Appendix 3B, and comply with section 6i
6b The date the security holder resolution under rule 7.1A was passed
6c Number of +securities issued without security holder approval under rule 7.1
+ See chapter 19 for defined terms.
Appendix 3B Page 2 04/03/2013
6d Number of +securities issued with security holder approval under rule 7.1A
6e Number of +securities issued with security holder approval under rule 7.3, or another specific security holder approval (specify date of meeting)
6f Number of +securities issued under an exception in rule 7.2
6g If +securities issued under rule
7.1A, was issue price at least 75%
of 15 day VWAP as calculated
under rule 7.1A.3? Include the
+issue date and both values.
Include the source of the VWAP
calculation.
6h If +securities were issued under rule 7.1A for non-cash consideration, state date on which valuation of consideration was released to ASX Market Announcements
6i Calculate the entity's remaining issue capacity under rule 7.1 and rule 7.1A - complete Annexure 1 and release to ASX Market Announcements
7 +Issue dates
Note: The issue date may be prescribed by ASX (refer to the definition of issue date in rule 19.12). For example, the issue date for a pro rata entitlement issue must comply with the applicable timetable in Appendix 7A.
Cross reference: item 33 of Appendix 3B.
30 June 2014
Appendix 3B New issue announcement
8 Number and +class of all
+securities quoted on ASX
(including the +securities in
section 2 if applicable)
+ See chapter 19 for defined terms.
04/03/2013 Appendix 3B Page 3
Appendix 3B
New issue announcement
9 Number and +class of all
+securities not quoted on ASX
(including the +securities in
section 2 if applicable)
10 Dividend policy (in the case of a trust, distribution policy) on the increased capital (interests)
+ See chapter 19 for defined terms.
Appendix 3B Page 4 04/03/2013
Part 2 - Pro rata issue
11 Is security holder approval required?
12 Is the issue renounceable or non- renounceable?
13 Ratio in which the +securities will be offered
14 +Class of +securities to which the offer relates
15 +Record date to determine entitlements
16 Will holdings on different registers (or subregisters) be aggregated for calculating entitlements?
17 Policy for deciding entitlements in relation to fractions
18 Names of countries in which the entity has security holders who will not be sent new offer documents
Note: Security holders must be told how their entitlements are to be dealt with.
Cross reference: rule 7.7.
19 Closing date for receipt of acceptances or renunciations
+ See chapter 19 for defined terms.
Appendix 3B New issue announcement
04/03/2013 Appendix 3B Page 5
Appendix 3B
New issue announcement
20 Names of any underwriters
21 Amount of any underwriting fee or commission
22 Names of any brokers to the issue
23 Fee or commission payable to the broker to the issue
24 Amount of any handling fee payable to brokers who lodge acceptances or renunciations on behalf of security holders
25 If the issue is contingent on security holders' approval, the date of the meeting
26 Date entitlement and acceptance form and offer documents will be sent to persons entitled
27 If the entity has issued options, and the terms entitle option holders to participate on exercise, the date on which notices will be sent to option holders
28 Date rights trading will begin (if applicable)
29 Date rights trading will end (if applicable)
30 How do security holders sell their entitlements in full through a broker?
31 How do security holders sell part of their entitlements through a broker and accept for the balance?
+ See chapter 19 for defined terms.
Appendix 3B Page 6 04/03/2013
32 How do security holders dispose of their entitlements (except by sale through a broker)?
33 +Issue date
Appendix 3B New issue announcement
Part 3 - Quotation of securitiesYou need only complete this section if you are applying for quotation of securities
34 Type of +securities
(tick one)
(a) +Securities described in Part 1
(b) All other +securities
Example: restricted securities at the end of the escrowed period, partly paid securities that become fully paid,
employee incentive share securities when restriction ends, securities issued on expiry or conversion of convertible securities
Entities that have ticked box 34(a)Additional securities forming a new class of securities
Tick to indicate you are providing the information or documents
35 If the +securities are +equity securities, the names of the 20 largest holders of the additional +securities, and the number and percentage of additional +securities
held by those holders
36 If the +securities are +equity securities, a distribution schedule of the additional
+securities setting out the number of holders in the categories
1 - 1,000
1,001 - 5,000
5,001 - 10,000
10,001 - 100,000
100,001 and over
37 A copy of any trust deed for the additional +securities
+ See chapter 19 for defined terms.
04/03/2013 Appendix 3B Page 7
Appendix 3B
New issue announcement
Entities that have ticked box 34(b)
38 Number of +securities for which
+quotation is sought
39 +Class of +securities for which quotation is sought
40 Do the +securities rank equally in all respects from the +issue date with an existing +class of quoted
+securities?
If the additional +securities do not rank equally, please state:
• the date from which they do
• the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment
• the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment
41 Reason for request for quotation now
Example: In the case of restricted securities, end of restriction period
(if issued upon conversion of another +security, clearly identify that other +security)
42 Number and +class of all
+securities quoted on ASX
(including the +securities in clause
38)
+ See chapter 19 for defined terms.
Appendix 3B Page 8 04/03/2013
Quotation agreement
Appendix 3B New issue announcement
1 +Quotation of our additional +securities is in ASX's absolute discretion. ASX
may quote the +securities on any conditions it decides.
2 We warrant the following to ASX.
• The issue of the +securities to be quoted complies with the law and is not for an illegal purpose.
• There is no reason why those +securities should not be granted
+quotation.
• An offer of the +securities for sale within 12 months after their issue will not require disclosure under section 707(3) or section 1012C(6) of the Corporations Act.
Note: An entity may need to obtain appropriate warranties from subscribers for the securities in order to be able to give this warranty
• Section 724 or section 1016E of the Corporations Act does not apply to any applications received by us in relation to any +securities to be quoted and that no-one has any right to return any +securities to be quoted under sections 737, 738 or 1016F of the Corporations Act at the time that we request that the +securities be quoted.
• If we are a trust, we warrant that no person has the right to return the
+securities to be quoted under section 1019B of the Corporations Act at the time that we request that the +securities be quoted.
3 We will indemnify ASX to the fullest extent permitted by law in respect of any claim, action or expense arising from or connected with any breach of the warranties in this agreement.
4 We give ASX the information and documents required by this form. If any information or document is not available now, we will give it to ASX before
+quotation of the +securities begins. We acknowledge that ASX is relying on the information and documents. We warrant that they are (will be) true and complete.
Sign here: ............................................................ Date: 1 July 2014 (Director/Company secretary)
Print name: Andrew Beigel
== == == == ==
+ See chapter 19 for defined terms.
04/03/2013 Appendix 3B Page 9
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