4th December 2009
ASX/MEDIA RELEASE
ETHAN MINERALS TO LIST ON ASX TODAY
Perth based, Ethan Minerals Limited (ASX: ETH) will today list on the ASX at 11am (WST). The Initial
Public Offering (IPO) recently closed, oversubscribed, successfully raising the maximum amount
sought of $4 million, with an additional over subscription of $1 million, taking the total amount
raised to $5 million. The total number of shares on issue, on listing will be 54, 431, 250 shares and on
listing Ethan Minerals will have a market capitalisation of over $10.5 million, offering shareholders
excellent leverage to exploration success. The lead Manager to the IPO is leading Sydney based,
investment advisory and securities firm, Fernshaw Securities Pty Ltd.
Ethan Minerals is a Perth based exploration company established to explore for and develop copper,
lead, zinc and associated gold and silver resource opportunities in Australia. Ethan has an initial
focus on base metal exploration, with four licences, surrounding and predominantly north of the
town of Northampton, Western Australia.
The Company’s key tenement contains the historical Mary Springs Mine where a JORC Inferred
Resource, as calculated by Minemap, contains some 145,000 tonnes at 11.5% lead. The
mineralisation containing the JORC Resource is open in all directions. Historical reports and
production figures also indicate the occurrence of over 100 further historical base metals workings
within the Northampton Mineral Field.
Bulk commodities, such as lead, are currently in strong demand and have significant potential upside
for shareholders. Lead prices have experienced a strong surge in price over the past year, recently
settling at an all time high, reaching US$2,289.50 per tonne (www.lme.com).
In commenting on this significant milestone for Ethan Minerals, Ken Fitzgerald, Executive Director,
said,
“Ethan Minerals are delighted to be listing on the ASX today. The Company can now enter into an
exciting phase of its development as it moves towards becoming a new and emerging explorer in
Australia.”
“Having listed with the ASX today, Ethan Minerals can now concentrate on the commencement of
drilling at our Mary Springs resource. With an initial drilled inferred base metals resource at Mary
Springs and with historically recorded mineralisation within each licence, the Company looks
forward to updating the market on early progress with its key project, with the plan to potentially
increase the resource base.”
If you would like to interview Ken Fitzgerald, please contact Rod North, Bourse Communications,
(03) 9510 8309 or 0408 670 706.
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