Terramin Resources Gets AU$1M Share Placement from Macquarie Ban
Adelaide, Australia, Jan 22, 2006 - (ACN Newswire) - Macquarie Bank (ASX: MBL) has increased it holding in Terramin Resources (ASX: TZN) to 8.2% after a AU$1M share placement.
The emerging zinc resource announced on Friday that the big Australian had agreed to take a an addtional 1.82M Terramin shares at AU$0.55 each.
The placement price represents a slight premium to Terramin's average traded price of AU$0.54 over the past four days.
Terramin's Executive Chairman, Kevin Moriarty, said proceeds from the placement would be used to help the Company progress its first overseas acquisition and for working capital.
The placement takes the Bank's total holding in Terramin to over 5.8M shares.
About MACQUARIE BANK LIMITED: Investment Banking, Banking and Financial Services
About TERRAMIN AUSTRALIA LIMITED: Terramin is a dedicated base metals company focused on early development of the Angas Zinc project and advanced exploration at Menninnie Dam zinc/lead and copper project.
Kevin Moriarty - Executive Chairman
Source: MACQUARIE BANK LIMITEDTERRAMIN AUSTRALIA LIMITED
Contact: Kevin Moriarty Executive Chairman TEL: +61 8 8274 2190 www.terramin.com.au
Copyright 2006 ACN Newswire. All rights reserved.
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