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3 Sep 2010 09:33
Noventa Limited
("Noventa" or the "Company")
Strategic Update
3 September 2010
Following the announcement regarding the new potential high grade tantalum discovery at Marropino on 1 September 2010 (the "Discovery") and the completed $8m financing today, the board has decided to accelerate the assessment of the Discovery whilst concurrently executing its strategic plan outlined on 10 June 2010 (the "Plan"). The additional cost for accelerating the assessment of the Discovery will be minimal while it could have the potential benefit of significantly enhancing the economics of the Plan, especially in the early years, subject to verification of potential size, depth, grade, and significance of the Discovery. If it is proven that the Discovery is viable, the enhanced economics may reduce or eliminate further need for external financing for the execution of the Plan. Until the evaluation of the Discovery is completed there is no guarantee that it is viable or of consistently high grade.
The Company will provide further updates on the Discovery and its future capital requirements when appropriate.
For further information please contact:
Eric F. Kohn TD
Chairman
Noventa Limited
+41 22 8500560
+41 79 5030150
www.noventa.net
Nick Harriss/Emily Staples
Religare Capital Markets (Nomad)
+44 20 7444 0800
Daniel Briggs Religare Capital Markets (Broker) +44 20 7444 0500
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