RNS Number:3900L
Latitude Resources plc
01 November 2006
Latitude Resources plc
Exercise of Warrants in Western Goldfields
The Company announces that it has exercised 2,500,000 warrants at $1.00 per
share in Western Goldfields (TSX: WGI). This takes the Company's holding in
Western Goldfields to 9.9% of the issued share capital.
[That was $1.00USD!]
Latitude are dual listed, you can get the Canadian price on your ADVFN monitor TSE:WGI I think this link should get you there The turnover in shares is usually 2:1 with the Toronto numbers being the greater. You can also see the price at www.tsx.com ticker WGI. Its gone down slightly to $2.4CAD since my post, its a bit volatile!
My rough calculation was slightly high as I didn't allow for running costs since start of July.
CASH HELD AT END OF JUNE AS PER REPORT £3.8Mill
LESS TANAMI PURCHASE £1Mill
LESS WGI WARRANT PURCHASE £1.3Mill
H2 SPEND £0.5Mill
CASH REMAINING £1.0Mill
WGI INVESTMENT 7.5Mill shares at $2.4CAD = $18MillCAD = £7.23Mill (at £1.00 to $2.27CAD)
TANAMI INVESTMENT 9.8Mill shares at $0.14AUD = $1.372MillAUD = £0.548Mill (at £1.00 to $2.50AUD)
TOTAL VALUATION £1.0M + £7.23M + £0.548M
= £8,778,000
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