Letter to Shareholders
Perth, Dec 7, 2015 AEST (ABN Newswire) - On 4 December Triton Minerals Ltd (
ASX:TON) announced several Board and management changes, including me being appointed as the new Chief Executive Officer and Mr Rod Baxter being appointed a Non-Executive Director at the conclusion of the non-renounceable Entitlement Offer, which is currently scheduled to close on 14 December 2015.
As your new CEO, I felt compelled to write to you as soon as was practical to introduce myself and to outline how I intend to leverage my background to create value for all Triton shareholders. I also wanted to take this opportunity to encourage your participation in the Entitlement Offer, which is only available to eligible shareholders in Triton.
As my CV demonstrates (Appendix I in link below), mining and resources is at the core of my experience. However, I also bring to this role a breadth of perspective and insight, having held senior executive positions in engineering, design and construction (mining and civil), banking, corporate finance, project development and mining operations over the past 35 years.
In many of those roles it has been my duty to take on specific challenges, to set the strategic course for the company, deliver on its objectives and to ultimately generate value. The opportunity with Triton is no different and, while extremely exciting, it is not without its challenges.
The mining industry, particularly for explorers and developers, is a tough sector in the current economic climate however, having seen a few cycles over my time, I firmly believe that through focus and hard work we have a unique opportunity in Triton to achieve successful outcomes for shareholders.
To work in a graphite-focused company is particularly attractive to me. Creating efficient energy sources is at the core of our global future and Triton is extremely well-positioned, through its Mozambique graphite projects and strong industry relationships, to play a role in addressing a critical need in an expanding market.
The continued trends of growing industrialisation and increasing urbanisation across China and other developing nations are likely to correspond with an increasing demand for strategic minerals such as graphite, and thus a secure and reliable supply of high quality graphite, that will continue well into the future.
The focus for the Triton Board and myself will be to continue the active consideration of opportunities to develop the Company's flagship projects, including Ancuabe and Balama North, and by doing so, generate value for shareholders.
Entitlement Offer
On 12 November 2015, the Company announced that it will be offering eligible shareholders the opportunity to acquire fully paid ordinary shares in the Company (Shares) through a pro rata non-renounceable entitlement issue of one (1) Share for every five (5) Shares held by eligible shareholders on the record date, at an issue price of $0.15 per share to raise up to approximately $11.3 million (before costs), with each eligible shareholder offered one (1) free attaching option (Options) for every two (2) Shares subscribed for under the offer. The Options are exercisable at $0.20 each and expire on 16 March 2017 and are expected to be listed subject to compliance with ASX Listing Rules.
The Entitlement Offer is partially underwritten by GMP Securities Australia Pty Limited to the amount of $4 million.
The details of how these funds would be deployed are clearly outlined in the Entitlement Offer prospectus dated 25 November 2015, as supplemented by way of a supplementary prospectus dated 4 December 2015. As a shareholder in Triton, I encourage you to read the related documents in detail, and to participate in the Entitlement Offer to provide a solid foundation for your Company in 2016.
In closing, and on behalf of the Board and the Triton team, I wish you and your family a very happy and safe festive season and a prosperous 2016.
Yours sincerely,
Garth Higgo
Chief Executive Officer
To view Garth Higgo's CV, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-TON-745677.pdf
About Triton Minerals Ltd
Triton Minerals Limited (ASX:TON) is an ASX listed, responsible mineral explorer and resource management company headquartered in Perth, Australia.
Led by a highly experienced management team, Triton Minerals' vision is to grow shareholder's value through discovery or development of base metal, gold and other precious metal deposits.
Triton has made excellent progress with its three Graphite projects located in the Cabo Delgado Province in Mozambique, with the program successfully identifying a number of graphitic exposures.
It is the Company's belief that the Mozambique, Balama North Project could host multiple and very substantial world class graphite deposits.
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