1233 HIGH STREET, SUITE 1
ARMADALE
Victoria
Australia
Phone: +61 (0)3 9824 5254
Fax: +61 (0)3 9822 7735
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Company SummaryMintails Limited (ASX Code : MLI) is an Australian listed company with management and operations in South
Africa. Mintails processes and recovers gold and proposes to recover uranium from surface tailings resources
which are present on the West and East Rand of South Africa’s historic Witwatersrand Basin. Company NewsWednesday, July 22, 2009 Mintails Limited has rejected the offer from DRD Gold Limited to acquire all of the company’s interests in its South African subsidiaries and thereby all its South African assets. The offer, which was received on 30 June and was valid for one month, excluded the company’s shareholding in West Wits Mining Limited. The company states communication received from shareholders, as well as blogs, indicated that the offer from DRD did not represent the value of the company. The Board nevertheless considered it prudent to ensure that shareholders were fully informed given the material changes related to the funding requirements of the company, notwithstanding the recorded view of the Board that it considered the embedded value of the assets to significantly exceed the value implied by the offer. The company ascertained there was support for a new capital raising to support its funding needs going forward. Mintails announce that it received substantial support for and is now proceeding with a proposed placement of a minimum of 163,000,000 new shares at an issue price of 4.5 Australian cents to raise up to AUD 7,370,000. Map Legend: Producer Past Producer  Development  Exploration |
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