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Termination of Restated Investment Agreement
FIRESTONE ENERGY LIMITED
(Incorporated in Australia)
(Registration number ABN 058 436 794)
Share code on the JSE Limited: FSE About Firestone Energy
Share code on the ASX: FSE
ISIN: AU000000FSE6 Firestone Energy Limited is an
(SA company registration number 2008/023973/10)
("FSE" or "the Company")
independent, Australian exploration and
development company listed on the
Australian Stock Exchange Ltd (ASX) and
the Johannesburg Stock Exchange (JSE).
Termination of Restated Investment Agreement Firestone Energy has entered into a Joint
Venture with Sekoko Resources (Pty) Ltd
through which Firestone Energy has
acquired the right to 60% participation
interests in the Waterberg Coal Project
Firestone Energy Limited (ASX/JSE:FSE) (“Firestone” or the
located in Lephalale area, Limpopo Province,
“Company”) had previously announced that it was in negotiations South Africa.
regarding setting a revised date for second stage completion to occur
under the terms of the Restated Investment Agreement with Ariona SA, The first stage of the project is to develop the
Smitspan mine which has a substantial
BBY Nominees Pty Ltd and Jaguar Funds Management Limited.
measured thermal coal resource and to
develop the Vetleegte mine which is a
The negotiations failed to resolve a revised date for second stage substantial metallurgical coal deposit.
completion, which had been expected to occur on 28 March 2013. As a
result, the Restated Investment Agreement has terminated. Firestone Energy is committed to becoming a
profitable independent coal and energy
The Company is nevertheless continuing discussions with the parties producer at its projects in South Africa,
concerning alternative arrangements as well as considering alternative thereby making a substantial contribution to
funding from other sources. The Company expects to be able to update the social and economic development of the
the market on the outcome of those negotiations by mid April 2013 and Lephalale area and South Africa.
has requested to remain in voluntary suspension until that time. The Corporate Details
Company will update the market once those negotiations are concluded. ASX: FSE
JSE: FSE
Firestone retains the use of the Share Purchase Agreement signed on Issued Capital:
26 April 2012 between the Company and BBY Nominees Pty Ltd and 3,549 million ordinary shares
this A$2.2million facility may be drawn down upon to meet the
Major Shareholders:
Company’s short term funding needs. Sekoko Resources (Pty) Ltd
Linc Energy Ltd
Yours sincerely, BBY Nominees Pty Ltd
Bell Potter Nominees Ltd
Directors and Officers
Non Executive Directors:
David Knox Mr Tim Tebeila (Chairman)
Chief Executive Officer David Perkins (Deputy Chairman)
www.firestoneenergy.com.au Dr Pius Kasolo
Ben Mphahlele
Tel: Australia (+61 08 9287 4600)
Kobus Terblanche
South Africa (+27 11 706 3548) Oren Zohar
Jack James
2 April 2013 Officers:
Johannesburg Mr David Knox CEO
Ms Amanda Matthee CFO
Sponsor Mr Jerry Monzu Company Secretary
River Group
Contact:
Suite B9, 431 Roberts Road
Subiaco, Western Australia 6008
Tel: +61 (08) 9287 4600
Date: 02/04/2013 08:55:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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