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Re-Quotation of Firestone's securities
FIRESTONE ENERGY LIMITED
(Incorporated in Australia)
(Registration number ABN 058 436 794)
Share code on the JSE Limited: FSE
Share code on the ASX: FSE
ISIN: AU000000FSE6
(SA company registration number 2008/023973/10)
("FSE" or "the Company")
About Firestone Energy
Firestone Energy Limited is an
independent, Australian exploration and
development company listed on the
RE-QUOTATION OF FIRESTONE’S SECURITIES Australian Stock Exchange Ltd (ASX) and
the Johannesburg Stock Exchange (JSE).
Firestone Energy Limited (ASX/JSE : FSE) ("Firestone" or the "Company") Firestone Energy has entered into a Joint
wishes to advise shareholders that it has been progressing negotiations Venture with Sekoko Resources (Pty) Ltd
through which Firestone Energy has
with third parties with a view to securing cornerstone investors to provide
acquired the right to 60% participation
funding for the Company and the Waterberg Coal Project.
interests in the Waterberg Coal Project
While these negotiations have been progressing the shares of the located in Lephalale area, Limpopo Province,
South Africa.
Company have been placed in a self imposed suspension until the
outcome of the negotiations were known.
The first stage of the project is to develop the
Smitspan mine which has a substantial
During the negotiation stage it has become apparent that new investors
measured thermal coal resource and to
would prefer to wait until the outcome of the takeover by Waterberg
develop the Vetleegte mine which is a
Coal Company is known and that an investment path is clear and
substantial metallurgical coal deposit.
understood.
Firestone Energy is committed to becoming a
Given that negotiations with investors is unlikely to conclude until the
profitable independent coal and energy
corporate actions are finalised, the Company requests that the producer at its projects in South Africa,
voluntary suspension of its securities be lifted. thereby making a substantial contribution to
the social and economic development of the
The Company confirms that it has access to A$1.950M in funding Lephalale area and South Africa.
(subject to conditions), being the balance of a A$2.2M Share
Subscription Agreement, provided by BBY Nominees. The Company has Corporate Details
drawn down A$250k from this Share Subscription Agreement. The issue ASX: FSE
JSE: FSE
of shares pursuant to the agreement may be subject to regulatory and
or shareholder approvals, the Company will update the market as Issued Capital:
required. 3,549 million ordinary shares
Major Shareholders:
In addition to this, the Company's joint-venture partner in the Waterberg Waterberg Coal Company
Project, Sekoko Resources, is in the process of finalising the terms of an Sekoko Resources (Pty) Ltd
interim funding facility. This facility will assist the Company with its Linc Energy Ltd
BBY Nominees Pty Ltd
contribution for the operational expenses in the project, leading to the
finalised Bank Feasibility Study due in June 2013. Directors and Officers
The Company wishes to confirm that it remains in compliance with listing Non Executive Directors:
Mr Tim Tebeila (Chairman)
rule 3.1 and 12.2. David Perkins (Deputy Chairman)
Dr Pius Kasolo
Ben Mphahlele
Yours sincerely, Kobus Terblanche
Oren Zohar
Jack James
Officers:
Mr David Knox CEO
Ms Amanda Matthee CFO
David Knox Mr Jerry Monzu Company Secretary
Chief Executive Officer
www.firestoneenergy.com.au Contact:
Tel: Australia (+61 08 9287 4600) Suite B9, 431 Roberts Road
Subiaco, Western Australia 6008
South Africa (+27 11 706 3548) Tel: +61 (08) 9287 4600
About Sekoko Resources
Sekoko Resources (Pty) Ltd is a South African-based black-owned energy and minerals
company developing the coal, magnetite iron ore and PGMs Projects in the Limpopo Province
of South Africa. This includes a significant exploration program and development of the
Waterberg Coal Joint Venture Project based on significant Coal Zone Resources. Sekoko is
targeting to commence operations in 2012, thus forming the basis for developing a global coal
business.
Johannesburg
28 May 2013
Sponsor
River Group
2
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