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Chatham Rock Phosphate appoints London corporate advisers

Chatham Rock Phosphate appoints London corporate advisers for capital raising

Chatham Rock Phosphate has appointed London corporate finance advisers Wimmer Financial to manage an international capital raising over coming weeks.

The financing, by private placement, is likely to be determined by a book build process managed in conjunction with Wimmer Financial. The offering, for qualified investors, is likely to be the final capital raising required before CRP is fully permitted.

“As our project is well advanced in all other respects we see the granting of the second permit we require - the environmental or “Marine” consent - as a game changer for us,” according to Managing Director Chris Castle.

He says an opportunity to invest on the same terms (including options) is unlikely to occur again.

“The recently granted mining permit, the first to be granted under new legislation, faced very rigorous scrutiny indeed. The success of this application bears tribute to the undeniable merits of the project.”

Mr. Castle said the project’s key merits include:

· Chatham holds a strategic, multi-million tonne organic rock phosphate deposit uniquely positioned to access Asian and Australasian fertiliser markets
· It has a 20 year mining licence
· It has recently applied for new prospecting licences both east and west of its existing licence areas that could significantly increase the scope of resources.

Chatham is seeking NZ$6 million (net) to fund the environmental consent and corporate costs until Q3, 2014 when the environmental Marine Consent is expected to be granted.

Edison Research presently values Chatham shares at NZ$2.04 on un-risked basis.

Wimmer Financial is an international corporate advisory firm based out of London, UK, specialising in natural resources (mining, oil & gas, alternative energy) and real estate, with global reach through a network of close partners and clients all over the world.


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