12th Apr 2007 07:22
Albidon Limited12 April 2007 Level 1 62 Colin St West Perth 6005ALBIDON LTD Western Australia ARBN 107 288 755 Tel:.+61.8.9211 4600 Fax:. +61.8.9211 4699 Email:[email protected] ASX Code: ALB AIM Code: ALD 12 April 2007 Market release via electronic lodgement US$5 MILLION PLACEMENT WITH JINCHUAN GROUP The Company is pleased to announce it has completed a placement of 4,190,992shares at A$1.55 cents each to Jinchuan Group Limited ("Jinchuan") to raise US$5million (A$6.5 million). The funds raised will be used to assist in thepurchase of equipment, construction of the Munali Nickel Project and developmentof the mine. This placement was previously announced to the market as part of the offtakeagreement between Jinchuan and the Company for nickel, copper, cobalt and PGMconcentrates from the Munali Project being constructed in Zambia. The placementprice reflects the 45 day volume weighted average price leading up to theexecution of the offtake agreement with Jinchuan in December, 2006. Albidon is pleased to welcome Jinchuan as a shareholder. By order of the BoardAlbidon Limited If you have any queries please contact the CFO, Nicholas Day on +61 8 9211 4600. Albidon's nominated adviser is RFC Corporate Finance Ltd, contact Stephen Allen+61 8 94802500. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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