Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Chatham Rock Phosphate Share Purchase Plan


Chatham Rock Phosphate Share Purchase Plan


Chatham Rock Phosphate has decided to offer a further share purchase plan offer to Shareholders. The company has achieved several key milestones in the year since its last share purchase plan offer and in order to maintain operational momentum further capital is required.


The SPP will offer existing shareholders the opportunity to subscribe for up to $15,000 of new shares at an issue price of $0.33 per share. The record date for the plan is 14 December 2012.


The issue price of $0.33 per share represents a 17.5% discount to the market price at the close of trading today and also represents the last price at which Chatham Rock Phosphate completed private placements.


“Eligible persons” (as defined in the Securities Act 1978) are also entitled to apply for any shortfall from the SPP at the issue price. The shortfall shares will be of a number equal to the maximum number of shares offered under the SPP less all the shares allotted under the SPP.

Capital raised will be applied:

To refine our mining system design so we can start detailed designs early in 2013.
To complete our environmental consent application to submit as soon as the Exclusive Economic Zone Regulations are completed.
To further work on and receive our mining licence and marine consent.
To undertake further feasibility studies on beneficiation of our rock phosphate
If required, to undertake further research work at sea
To undertake the required work programmes for the Namibian exploration licences applied for earlier this year.

The Company has generated a lot of momentum for its rock phosphate project and we believe we remain on track to achieve our ultimate goal of going into production on or before New Year 2015. The capital to be raised by this SPP will play a vital role in ensuring the project maintains momentum and reaches production stage in accordance with the current projected timeframes.

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Our Fresh Water: Monitoring Report Confirms Serious Challenges For Rivers

• nitrogen levels are getting worse at 55 percent and getting better at 28 percent of monitored river sites across New Zealand • phosphorus levels are getting better at 42 percent and getting worse at 25 percent of monitored river sites across New Zealand More>>

ALSO:

Stats: Wind And Geothermal Emerge As Significant Sources Of Energy

Geothermal’s contribution to New Zealand’s total renewable energy generation increased from 11.5 percent in 2007 to 21 percent in 2015.... The value of wind jumped from $238 million (2 percent of total renewable energy generation) in 2007 to $884 million (6 percent) in 2015. More>>

Errors Found: Electricity Authority Dumps Transmission Pricing Modelling

The Electricity Authority is ditching the cost-benefit analysis at the heart of its controversial attempt to find a new way to divide up costs for the national grid after finding an expanding range of serious computational errors in the work by Australian consultancy Oakley Greenwood. More>>

ALSO:

New Record: Migrant Arrivals At 129,500 A Year

Annual net migration has been steadily increasing since 2012. "This was mainly due to the rising number of migrant arrivals to New Zealand," population statistics senior manager Peter Dolan said. "Fewer migrant departures also contributed to the increase in net migration." More>>

ALSO:

Launched: NASA's Super Pressure Balloon Takes Flight From NZ

NASA successfully launched its football-stadium-sized, heavy-lift super pressure balloon (SPB) from Wanaka, New Zealand, at10:50 a.m. Tuesday, April 25 (6:50 p.m. April 24 in U.S. Eastern Time), on a mission designed to run 100 or more days floating at 110,000 feet (33.5 km) about the globe in the southern hemisphere's mid-latitude band. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news