Vane Minerals PLC
09 November 2007
9 November 2007
VANE Minerals Plc (AIM:VML)
('VANE' or the 'Company')
Notice of EGM & Increase in proposed placing
VANE announces that a notice convening an Extraordinary General Meeting ('EGM')
has been sent to shareholders on 7 November 2007. The EGM is scheduled for
Shareholders to vote on the proposed placing as announced on 2 November 2007. It
is to be held at the offices of Hammonds Solicitors, at 7 Devonshire Square,
Cutlers Gardens, London, EC2M 4YH on 30 November 2007 at 11.00 am.
In addition, the Company announces, further to the statement on 2 November 2007,
that Westwind Partners has exercised an option it had agreed with the Company to
increase the size of the proposed share issue to £6.25 million, by placing an
additional 7,142,857 Ordinary shares.
Accordingly, at the EGM resolutions will be put to Shareholders to approve the
issue of 35,714,285 Ordinary shares.
As previously announced, the net proceeds of the placing are to be used
primarily for accelerating VANE's breccia pipe drilling campaign in northern
Arizona, where the Company has 39 drill targets, and for proceeding to further
rounds of drilling on the Company's six properties in Utah.
Enquiries:
VANE Minerals Plc Westwind Partners Ambrian Partners Limited Parkgreen Communications
Matthew Idiens Paul Newman Richard Brown Laura Llewelyn / Beth Harris
+44 (0) 20 7667 6322 +44 (0) 20 7290 9713 +44 (0) 20 7776 6417 +44 (0) 20 7851 7480
For further information, please review: www.vaneminerals.com.
About VANE Minerals:
VANE Minerals 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.
The Company is using the silver/gold production at its Diablito mine in Mexico
to help fund exploration work across its attractive portfolio.
Since December 2004, VANE has built up a substantial uranium portfolio of
properties in the Colorado Plateau region, initially targeting the Arizona strip
which holds the highest grade deposits in the US, contained in breccia pipes.
This information is provided by RNS
The company news service from the London Stock Exchange