da ich wirklich nur geringe wirtschaftsenglisch kenntnisse besitze bitte ich jemand von euch mir bei der übersetzung zu helfen und ohne etwas falsch darzustellen.
danke im voraus und schöne grüße
spead1
31.3.2006
Shortfall from Pro Rata Issue Placed by Directors
Sub-Sahara Resources NL ("Sub-Sahara") advises that the shortfall of 25,070,895 shares from the recent non-renounceable pro-rata share issue has been placed by the directors. $2,005,672 was raised from the issue of the shortfall shares that were issued at a price 8 cents per share with a free attaching 1:4 option exercisable at $0.15 per share on or before 30 June 2009.
The non-renounceable issue was completed pursuant to the Prospectus dated 10 February 2006 to raise a total of $6,455,095 (before expenses) and closed on 10 March 2006. During January 2006 the Company placed 20 million shares at an issue price of 8 cents per share, together with an attaching 1:4 option to raise $1,600,000 (before expenses)
Funds from the rights issue and the January 2006 share placement will be primarily utilized in fast-tracking and expanding the exploration programs on the Zara gold project located in Eritrea following the significant high-grade drill results previously reported from the initial program. These drill results include:
ZARD002 - 14m @ 7.81g/t gold from 173m
ZARD003 - 4m @ 34.7g/t gold from 75m
ZARD003 - 5m @ 9.3 gold from 89m
ZARD003 - 5m @ 13.95 gold from 99m
ZARD003 - 8m @ 6.62 gold from 109m
ZARD003 - 8m @ 11.49 gold from 121m
Sub-Sahara and its joint venture partners are currently infill and extension drilling on the high grade Asmara gold/copper/zinc/silver project and Nyanzaga gold Joint Venture with Barrick Gold while carrying out extension and delineation drilling on the high-grade Zara gold project.
Following completion of the shortfall placement, Sub-Sahara has cash reserves of $8 million. Placement of the rights issue shortfall was arranged by DJ Carmichael Pty Limited and Paradigm Capital Pty Ltd.
About Sub-Sahara
Sub-Sahara is an exploration company with an extensive portfolio of advanced exploration projects. An estimated 5 drill rigs are operating currently on 3 projects, namely the high grade Asmara gold/copper/zinc/silver project (1 rig), Nyanzaga gold Joint Venture with Barrick Gold (3 rigs) and high-grade
Zara gold project (1 rig). Barrick Gold are currently infill drilling the Tuskar prospect on the Nyanzaga gold project.
Initial mineral resource estimates are expected for Debarwa (Asmara project) and Nyanzaga in the current half year. A Conceptual Mining Study on the Debarwa copper/gold deposit is due for completion during April 2006. In addition, two further Sub-Sahara projects will be subject to follow-up drilling commencing in the current quarter by Joint Venture partners, Resolute Mining Limited and Currie Rose Resources Inc.
For and on behalf of
Sub-Sahara Resources NL
Michael R Griffiths
Chief Executive Officer & Executive Director