Vane Minerals PLC
08 February 2007
This announcement replaces RNS 9110Q released today at 07:00am. The new ordinary
shares represent 0.7% of the enlarged issued share capital, not 0.07% as stated
in the announcement released at 7:00am.
The correct amended announcement is below:
VANE Minerals Plc (AIM: VML)
Private Placing
Vane Minerals Plc ('VANE' or 'the Company') is pleased to announce that,
following an approach for additional shares by Geiger Counter ltd, a specialist
uranium investment vehicle, it has raised £145,500 net of expenses by way of a
private placing ('the Placing') of one million new ordinary shares of £0.10p
each at a price of 15p, placed with Geiger Counter Ltd. The new ordinary shares
will represent 0.7% of the enlarged issued share capital of the Company.
Application will be made for the New Ordinary Shares to be admitted to AIM and
dealings in the new ordinary shares are expected to commence on 13th February
2007.
The funds raised will be used to further accelerate the exploration and
development programme for the Company's portfolio of uranium properties in the
US. As previously reported, drilling is currently underway at the Miller breccia
pipe target in Northern Arizona. Further drilling is planned for the Big Red,
Red Dike and Rabbit pipe targets which are currently permitted. Additional
permits are pending on further breccia pipe targets.
Matthew Idiens, Director of Corporate Development, commented, 'We are delighted
that Geiger Counter, the world's first specialist uranium investment vehicle,
has continued to show its support for VANE and the Company is pleased to be able
to assist Geiger Counter in increasing its exposure by way of this small
placing. The commencement of drilling at our uranium targets is a major
milestone in the development of the Company. Our hope is that, if the results of
this year's drilling programme are positive, they will be reflected in a
re-rating of our shares.'
Enquiries:
VANE Minerals Plc Ambrian Partners Limited
Matthew Idiens Richard Brown
+44 (0) 20 7667 6322 +44 (0) 20 7776 6417
Parkgreen Communications Daniel Stewart & Co
Cathy Malins/Annabel Leather Katie Shelton
+44 (0) 20 7851 7480 +44 (0)20 7776 6550
About VANE Minerals:
Since December 2004, VANE Minerals has built a substantial uranium portfolio of
properties in the US, initially targeting the Northern Arizona Breccia Pipe
District which holds the highest grade deposits in the US.
The Company is using the silver/gold production at the Diablito mine in Mexico
to help fund exploration work across its attractive portfolio of uranium as well
as base and precious metal prospects.
VANE was founded by the former international exploration team of
Freeport-McMoRan Copper & Gold Inc., one of the world's largest producers of
copper and gold. The Company has assembled a highly qualified and experienced
management team with a proven track record in exploration and development, who
have spent their entire careers searching for and defining large scale mineral
deposits.
For further information, please review: www.vaneminerals.com.
This information is provided by RNS
The company news service from the London Stock Exchange
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