Issue of Equity

21st Nov 2007 08:10

GVM Metals Ltd21 November 2007 GVM METALS LIMITED Issue of Equity GVM Metals Limited ('GVM' or the 'Company') is pleased to announce that it hastoday completed a conditional fundraising of £42.25m by way of a placing of65,000,000 new ordinary shares in GVM at 65p per share (the 'Placing'). The monies have been raised from clients of Blue Oar Securities Plc and MirabaudSecurities Limited, as joint brokers to the Company. The transaction will beused to fund the acquisition and development costs relating to the Company'sMooiplats and Baobab projects, as well as for exploration and acquisitionexpenditure, working capital and expenses. The Placing is subject to the passing of certain resolutions at the Company'sAnnual General Meeting ("AGM") to be held in Perth, Western Australia onWednesday, 28 November 2007 at 10.00 am, providing the required capacity for thePlacing. Subject to and following approval of resolutions at the AGM, application will bemade for the new ordinary shares that are the subject of the placing to beadmitted to trading on AIM, ASX and the JSE as required. The Placing Shares will represent approximately 23 per cent. of the enlargedshare capital immediately following admission of the Placing Shares to tradingon AIM. Commenting on the announcement, Simon Farrell, managing director said, "We arevery pleased to announce this significant milestone for the Company. The scaleand pricing of this placement demonstrates the support for the potential of theCompany's assets in a currently testing market. The proceeds of the transactionwill be utilised in accelerating GVM's projects over the next 18 months in orderto position the Company as a significant coal producer in South Africa." For more information contact: Simon Farrell, Managing Director GVM +61 417 985 383 +61 8 9322 6776 Romil Patel Blue Oar Securities Plc +44(0) 20 7448 4400 Jos Simson/Arabella Hobbs Conduit PR +44(0) 20 7429 6606 www.gvm.com.au This information is provided by RNS The company news service from the London Stock Exchange

---

Related Shares:

MCM.L