I do not have the latest on AEK, but will report further as June quarterly becomes available.
The Anatolia currently holds a 35% interest, and is acquiring via the JV, a further 40% for a total of a 75% interest in an advanced uranium project in Central Anatolia, Turkey.
The Company’s JV partner, Aldridge Uranium Pty Ltd is an Australian registered company and through its wholly owned Turkish subsidiary, Adur Madencilik Ltd Sti (“Adur”) holds one of the largest and highest grade uranium occurrences in Turkey.
Adur’s extensive tenement holding covers some 160,000ha (1,600km2) in Turkey’s premier uranium district. Adur is recognised as one of Turkey’s pre-eminent uranium exploration companies.
The Turkish government is supportive of the nuclear industry and proposes to construct light water nuclear reactors in its goal that nuclear energy is to provide 20% of the nation’s electricity by 2030.
ANATOLIA RAISES $4.5 MILLION
Anatolia Energy Limited (“Anatolia” or “Company”) is pleased to announce that it has raised approximately $4.5 million (less offer costs) in new equity capital from the placement and the nonrenounceable rights issue raisings which were announced to the market on 7 May 2012.
The placement, to sophisticated and professional investors under section 708 of the Corporations Act, raised $4.44 million from the issue of 44,417,750 ordinary shares at $0.10 (10 cents) per share and 44,417,750 attaching options at no cost exercisable at $0.18 (18 cents) on or before 15 June 2017.
The non-renounceable rights issue has raised $81,045 from the issue of 810,465 ordinary shares at $0.10 (10 cents) per share and 810,465 attaching options at no cost exercisable at $0.18 (18 cents) on or before 15 June 2017 to participating shareholders. This represents a shortfall of $996,196 to the maximum amount stated in the Entitlement Issue Prospectus dated 10 May 2012 (‘Prospectus’).
An additional $268,955 is yet to be taken up by the underwriter. The underwriter has formally notified the Company that due to certain negative trigger events, the amount underwritten has been reduced from $500,000 to $350,000. On completion of the issue of underwritten shares and options the total amount raised will be approximately $4.8 million.
The Company is now well funded and will accelerate its planned exploration and development programme for its advanced joint venture uranium project located in the Anatolia region of Turkey.
AEK has raised money at around 40% above their current SP of 7c, the attaching option is probably a little generous at only 18c strike with 5 years to get there.
Interestingly less than 10% of retail shareholders took up the option of the issue. Not a particularly good look.