13th September 2005
Company Announcements Office
Australian Stock Exchange Limited
10th Floor
20 Bond Street
SYDNEY NSW 2000
Dear Sir
Final Settlement with Mining Contractor and Notice under Section 708 A
The Company at the date of this notice has complied with:
(a) the provisions of Chapter 2M of the Corporations Act; and
(b) Section 674 of the Corporations Act.
Company Announcements Office
Australian Stock Exchange Limited
10th Floor
20 Bond Street
SYDNEY NSW 2000
Dear Sir
Final Settlement with Mining Contractor and Notice under Section 708 A
The Company advises that it has settled the final amount owing of $436,083 owing to its mining contractor by placing 17.5 million shares with the contractor in full and final settlement of the debt. The settlement was originally detailed in the prospectus dated 24 June 2005 for the entitlements issue as $500,000 in cash and 35 million shares however this was changed to $820,630 in cash and 17.5 million shares.
The Directors of the Company felt it was better to conserve cash for working capital and exploration purposes.
The Company also approved the placement of 2,280,000 shares to a shareholder who was incorrectly omitted from the entitlements issue.
The securities are part of a class of securities quoted on the Australian Stock Exchange Limited (ASX).
The Company gives this notice pursuant to Section 708A(5)(e) of the Corporations Act.
The placement securities were issued without disclosure to investors under Part 6D.2, in reliance on section 708A(5) of the Corporations Act.
The Directors of the Company felt it was better to conserve cash for working capital and exploration purposes.
The Company also approved the placement of 2,280,000 shares to a shareholder who was incorrectly omitted from the entitlements issue.
The securities are part of a class of securities quoted on the Australian Stock Exchange Limited (ASX).
The Company gives this notice pursuant to Section 708A(5)(e) of the Corporations Act.
The placement securities were issued without disclosure to investors under Part 6D.2, in reliance on section 708A(5) of the Corporations Act.
The Company at the date of this notice has complied with:
(a) the provisions of Chapter 2M of the Corporations Act; and
(b) Section 674 of the Corporations Act.
As at the date of this notice, there is no excluded information to be provided in accordance with section 708A(7) and (8) of the act
Yours faithfully
Australian Mines Limited
Brett Young
Chief Operating Officer
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