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Update on Financial Restructure
About Firestone Energy
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")
Firestone Energy Limited is an
13 November 2012 independent, Australian exploration and
development company listed on the
Australian Stock Exchange Ltd (ASX) and
the Johannesburg Stock Exchange (JSE).
Firestone Energy has entered into a Joint
Update on Financial Restructure Venture with Sekoko Resources (Pty) Ltd
through which Firestone Energy has
acquired the right to 60% participation
interests in the Waterberg Coal Project
located in Lephalale area, Limpopo Province,
South Africa.
On 5 October 2012 Firestone Energy Limited (ASX/JSE: FSE) (the “Company” or
“FSE”) announced that it had received shareholder approval for the proposed The first stage of the project is to develop the
financial restructure which included a $40.7 million funding facility from Ariona Smitspan mine which has a substantial
Company SA. measured thermal coal resource and to
develop the Vetleegte mine which is a
Since 5 October 2012, the Company has been working with Ariona to satisfy the substantial metallurgical coal deposit.
remaining conditions precedents that have taken longer than originally expected.
While all the conditions precedent have now been satisfied, Ariona has requested Firestone Energy is committed to becoming a
a seven day extension in order to propose a deed of variation as to the terms of profitable independent coal and energy
the financial settlement, to which the board has agreed, that may result in the producer at its projects in South Africa,
financial completion occurring in stages. thereby making a substantial contribution to
the social and economic development of the
Ariona is a special purpose vehicle representing a consortium of international Lephalale area and South Africa.
institutional and private investors focusing on global resource opportunities.
Corporate Details
ASX: FSE
JSE: FSE
Issued Capital:
3,114 million ordinary shares
Yours sincerely,
Major Shareholders:
Sekoko Resources (Pty) Ltd
Linc Energy Ltd
BBY Nominees Pty Ltd
Bell Potter Nominees Ltd
David Knox
Directors and Officers
Chief Executive Officer
www.firestoneenergy.com.au Non Executive Directors:
Tel: Australia (+61 08 9287 4600) Mr Tim Tebeila (Chairman)
South Africa (+27 11 706 3548) David Perkins (Deputy Chairman)
Dr Pius Kasolo
Ben Mphahlele
Kobus Terblanche
About Sekoko Resources
Officers:
Sekoko Resources (Pty) Ltd is a South African-based black-owned energy and minerals Mr David Knox CEO
company developing the coal, magnetite iron ore and PGMs Projects in the Limpopo Ms Amanda Matthee CFO
Mr Jerry Monzu Company Secretary
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.
Contact:
SPONSOR Suite B9, 431 Roberts Road
RIVER GROUP Subiaco, Western Australia 6008
JOHANNESBURG Tel: +61 (08) 9287 4600
13 NOVEMBER 2012 Web: www.firestoneenergy.com.au
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