Further Supplementary Information Memorandum Lodged for Waratah's ASX Listing
November 07 2008 - 2:24AM
Marketwired
Waratah Coal Inc. (TSX VENTURE: WCI) ("Waratah" or the "Company")
advises that a further (fifth) Supplementary Information Memorandum
dated November 7, 2008 has been lodged as part of its Listing
Application to the Australian Stock Exchange Limited ("ASX") and
can be viewed on the Company's website www.waratahcoal.com or on
www.sedar.com.
The additional disclosure summarises the Company's announcement
of an Exploration Target in the range of 205 to 415 billion tonnes
of coal at its Galilee Basin Project.
SRK Consulting (SRK) was commissioned to provide independent
review and the coal exploration target referred to has been
validated by SRK. The full announcement, including the SRK
statement, a summary of the Exploration Target Range, technical
diagrams and an Executive Summary of a report previously prepared
for Waratah by URS Australia Pty Ltd on the potential for Galilee
Basin coal seam gasification and coal-to-liquids production can be
found on the Company's website www.waratahcoal.com.
About Waratah
Waratah's strategy is to build shareholder value, through
acquisition, exploration and development of coal projects in
Australasia. This strategy is being developed by a synthesis of
Waratah's core skills in project evaluation, structured
acquisition, exploration and project development and operations, an
area where Waratah executives have significant experience.
Waratah is continuing drilling on its' Galilee Basin Project,
Queensland, Australia, which currently has a total Inferred
Resource to 4.355 Billion tonnes. Recent drilling has also
confirmed the presence of premium quality coking coal at the
Nymboida Project, in New South Wales, Australia.
Waratah has recently had its listing classification on the TSX
Venture Exchange (the "Exchange") upgraded from Tier 2 to Tier 1.
Tier 1 is the Exchange's premier tier and is reserved for the
Exchange's most advanced issuers with the most significant
financial resources. Tier 1 issuers benefit from decreased filing
requirements and improved service standards.
On June 2, 2008 Waratah announced its intention to apply for
dual listing on the ASX, and on October 2, 2008 announced that it
had formally made its application to the ASX for the admission to
the Official List of the ASX and for Official Quotation of CDI's
for the shares issued in Waratah. On November 6, 2008 the Company
announced that the ASX had admitted Waratah to the Official List of
the ASX and that the Company's CDI will commence trading on Monday,
November 10, 2008 at 10.30am (Sydney, Australia time). Waratah is
now dual listed with its securities listed on both TSX-V and ASX.
Waratah did not raise any additional funds as part of the ASX
listing process.
The ASX is host to a number of coal exploration and mining
companies and the Waratah Board consider that listing the Company's
securities in a market very familiar with coal development
strategies will be of significant benefit to the Company and its
shareholders. The addition of Waratah to the ASX would represent
the listing of a significant new coal exploration and development
company in Australia.
The Board is of the view that a dual listing on the ASX will
broaden the shareholder base and will also add to the Company's
options for attracting corporate and project funding. The Board
also considered the significant demand from Australian retail and
institutional investors to dual list Waratah on the ASX, as several
of these parties are prevented from investing in securities listed
on overseas stock exchanges.
This press release does not constitute an offer to sell or a
solicitation to buy any of the securities in the United States. The
securities have not been and will not be registered under the
United States Securities Act of 1933, as amended ("the U.S.
Securities Act") or any state securities law and may not be offered
or sold in the United States or to U.S. Persons unless registered
under the U.S. Securities Act and applicable state securities laws
or an exemption from such registration is available.
Cautionary language:
Except for the historical and present factual information
contained herein, the matters set forth in this news release,
including words such as "expects", "projects", "plans",
"anticipates" and similar expressions, are forward-looking
information that represents management of Waratah Coal's internal
projections, expectations or beliefs concerning, among other
things, future operating results and various components thereof or
the economic performance of Waratah Coal. The projections,
estimates and beliefs contained in such forward-looking statements
necessarily involve known and unknown risks and uncertainties,
which may cause Waratah Coal's actual performance and financial
results in future periods to differ materially from any projections
of future performance or results expressed or implied by such
forward-looking statements. These risks and uncertainties include,
among other things, those described in Waratah Coal's filings with
the Canadian securities authorities. Accordingly, holders of
Waratah Coal shares and potential investors are cautioned that
events or circumstances could cause results to differ materially
from those predicted. Waratah Coal disclaims any responsibility to
update these forward-looking statements.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Contacts: Waratah Coal Inc. Peter Lynch President and CEO +61 7
3303 0692 Email: plynch@waratahcoal.com Waratah Coal Inc. Michael
Joyner Investor Relations - Canada (416) 368-3671 Email:
mjoyner@waratahcoal.com Website: www.waratahcoal.com
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