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Republic Gold Limited (ASX:RAU) Progresses Financing Activities For Amayapampa Gold Project Development
Brisbane, Mar 26, 2010 AEST (ABN Newswire) - Republic Gold Limited (
ASX:RAU) are pleased to provide shareholders with an update on recent financing activities related to the Company's Amayapampa Gold Project in Bolivia ("Amayapampa" or "Project").
Republic sent a delegation from the Board of Directors accompanied by the Company's advisors (CPM Group and Carling Capital Partners) to the Prospectors and Dealers Association Conference ("PDAC") in Toronto, Canada from 6th to 10th March 2010. Republic used the conference to progress planning for the ongoing fund raising for the development of Amayapampa. The Directors of the Company had a number of positive meetings with potential banking and financial partners. Based on strong investor interest from North America, Republic is also examining the benefits of listing the Company's fully paid shares on the Toronto Stock Exchange ("TSX").
Republic is looking to appoint the Toronto based investment bank, Jennings Capital Inc, to work with the Company's Australian stockbroker, Patersons Securities Limited, to raise the equity to fund the Project.
CPM Group of New York is mandated to raise debt for the Project whilst Carling Capital Partners continues to act as strategic financial adviser and coordinator of the fund raising.
Representatives from the Company, its advisors and Patersons Securities visited the Amayapampa mine site in Bolivia on 12-13th March 2010. The visit was very successful given the advisors and financiers were able to witness firsthand the development and progress the Company has made at the mine site and with the socialisation programme. A number of important local authorities were able to welcome the visitors to the community of Amayapampa.
Prior to leaving Bolivia, the Company and its advisors met with Senator Efrain Condori, the new Government Senator from the Amayapampa region and Senor Jose Pimentel, the new Minister for Mining and Metallurgy. Both meetings were very positive. Subsequent to the advisors leaving Bolivia, the Company met with the new Vice Minister for Mining Development, Senor Hector Cordova. This was also a highly positive meeting.
Republic's Managing Director; John Kelly, said: "The meetings with the Minister, Vice Minister and Senator capped off a very worthwhile 10 days in the region. Republic is very pleased that the core stakeholders involved in the continuing planning for debt and equity raising for Amayapampa were able to attend these discussions and hear firsthand the positive attitude of the Morales Government to foreign investment in Bolivia's mining sector. All parties were able to leave Bolivia with a true appreciation of the potential of the Amayapampa Project and the positive attitude of the Government and the local communities involved in the Project."
Contact
John Kelly
Managing Director
Republic Gold Limited
Tel: +61-7-4092-2594
Mob: +61-418-577-759
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