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Response to ASX Letter re Appendix 5B

6 Nov 2015 08:54

RNS Number : 8281E
Ferrum Crescent Ltd
06 November 2015
 

6 November 2015

 

Ferrum Crescent Limited

("Ferrum Crescent", the "Company" or the "Group")(ASX: FCR, AIM: FCR, JSE: FCR)

 

Response to ASX Letter re Appendix 5B

 

Ferrum Crescent, the ASX, AIM and JSE quoted iron ore developer announces that it has today responded to a routine letter from ASX Compliance Pty Ltd ("ASX Compliance") (the "ASX Letter"), further to the Company's release on 30 October 2015 of its Quarterly Activities and Cashflow Report and accompanying Appendix 5B for the period ended 30 September 2015 (together, the "Quarterly Report").

 

In summary, ASX Compliance raised certain queries and requested certain confirmations in light of the information contained in the Quarterly Report. In response to the ASX Letter, the Company stated the following:

 

"As announced to the market on 14 October 2015, the Ferrum Crescent group entered into a legally binding farm-in and joint venture agreement (the "Farm-in Agreement") with Business Venture Investments No. 1709 (Proprietary) Limited ("BVI") in South Africa to form a joint venture for the completion of the bankable feasibility study ("BFS") at the group's Moonlight Iron Project located in Limpopo Province, northern South Africa. The effect of entering into the Farm-In Agreement is that BVI will be responsible for the operational costs and some associated administrative costs in respect of the BFS activities. Accordingly, the Company believes that it will have access to sufficient cash to fund its near term operational activities. In addition, whilst the Company expects to continue to incur negative operating cash flows, consistent with statements set out in its annual report and audited consolidated financial statements released to the market on 30 September 2015, the Company currently expects to raise additional working capital in the first half of calendar year 2016."

 

The Company also confirmed that it is in compliance with all ASX listing rules, including listing rule 3.1, and that it meets the requirements of listing rule 12.2 (further details of which are set out in the notes to editors below).

To view the full ASX Letter and Ferrum Crescent's response, please click on the following link:

http://www.ferrumcrescent.com/IRM/Company/ShowPage.aspx/PDFs/1785-10000000/ResponsetoASXAppendix5BQuery 

 

 

For further information on the Company, please visit www.ferrumcrescent.com.  

Australia enquiries:

UK enquiries:

Ferrum Crescent Limited

Tom Revy T: +61 8 9474 2995

Managing Director

 

Ferrum Crescent Limited

Laurence Read (UK representative)

T: +44 7557672432

Strand Hanson Limited (Nominated Adviser)

Rory Murphy/Matthew Chandler

T: +44 20 7409 3494

Beaufort Securities Limited (Broker)

Elliot Hance

+44 20 7382 8416

 

South Africa enquiries:

Bravura Capital (Pty) Ltd (JSE Sponsor)

Doné HattinghT (direct): +27 11 459 5037

 

 

Notes to Editors:

ASX listing rule 3.1 sets out the obligation for listed companies to keep the market fully informed of price sensitive information, subject to certain limited exceptions (relating to incomplete and confidential transactions).

 

ASX listing rule 12.2 provides that a listed company must satisfy that its financial condition is such that it should remain quoted.

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
MSCGIBDBGUGBGUL
Date   Source Headline
30th Mar 20209:30 amRNSHalf-year Report
27th Mar 20207:00 amRNSMetallurgical Update
23rd Mar 20207:00 amRNSImpact of Coronavirus on the Group's Operations
11th Mar 20207:00 amRNSAssay Results, Toral Project, Spain
28th Feb 20207:00 amRNSHydrogeological Study Completed
14th Feb 20207:00 amRNSGeotechnical Study Completed, Toral Project, Spain
31st Jan 20207:00 amRNSDrilling Update
22nd Jan 20207:00 amRNSOperational and Strategic Update
20th Dec 20197:00 amRNSBroker change
18th Dec 20197:00 amRNSPreliminary Metallurgical Results
5th Dec 20197:00 amRNSDrilling & Metallurgical Update, Toral Project
28th Nov 201911:00 amRNSResult of AGM
19th Nov 201910:00 amRNSCommencement of drilling at the Toral Project
15th Nov 20197:00 amRNSDrilling Mobilisation and Operational Update
5th Nov 20197:00 amRNSMail-out of Notice of Annual General Meeting
1st Nov 20197:00 amRNSUpdate re: Stakeholder engagement process
29th Oct 20194:41 pmRNSSecond Price Monitoring Extn
29th Oct 20194:36 pmRNSPrice Monitoring Extension
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24th Oct 20197:00 amRNSExercise of Warrants and Issue of Equity
18th Oct 20194:00 pmRNSHolding in Company
14th Oct 20194:40 pmRNSSecond Price Monitoring Extn
14th Oct 20194:35 pmRNSPrice Monitoring Extension
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9th Oct 20192:00 pmRNSPrice Monitoring Extension
9th Oct 201912:38 pmRNSPresentation on Strategy for Toral Project
9th Oct 201911:20 amRNSHolding(s) in Company
1st Oct 20197:00 amRNSFinal Results for the Year Ended 30 June 2019
30th Sep 20197:00 amRNSEquity Fundraising and Issue of Warrants
27th Sep 20192:00 pmRNSPrice Monitoring Extension
25th Sep 20197:00 amRNSAssay Results
24th Sep 20191:49 pmRNSHolding(s) in Company
24th Sep 20191:47 pmRNSHolding(s) in Company
13th Sep 20197:00 amRNSExercise of Warrants and Issue of Equity
4th Sep 20197:00 amRNSExercise of Warrants and Issue of Equity
3rd Sep 20194:41 pmRNSSecond Price Monitoring Extn
3rd Sep 20194:36 pmRNSPrice Monitoring Extension
2nd Sep 20197:00 amRNSDrilling Update
27th Aug 201911:05 amRNSSecond Price Monitoring Extn
27th Aug 201911:00 amRNSPrice Monitoring Extension
27th Aug 20199:05 amRNSSecond Price Monitoring Extn
27th Aug 20199:00 amRNSPrice Monitoring Extension
22nd Aug 201911:05 amRNSSecond Price Monitoring Extn
22nd Aug 201911:00 amRNSPrice Monitoring Extension
15th Aug 20197:00 amRNSDrilling Update

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