NZ News Article: Phosphate miner sure of fundraising plan

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Full Text of Article: 

Chatham Rock Phosphate managing director Chris Castle is confident of raising $6 million needed to help fund its marine consent application to mine the sea floor.

CRP was in December granted a 20-year mining permit to vacuum the sea floor for phosphate nodules, used in fertiliser, from the Chatham Rise.

Castle said he was now seeking $6m to help fund a marine consent application needed before mining could begin.

"The $6 million is chugging along quite happily on the back of the mining licence, which helped quite a lot. I am very confident about picking it up."

UK-based international corporate advisory firm Wimmer Financial has been appointed to assist in fundraising. "The sooner we can get that money in, the sooner we can file the environmental impact assessment."

Meanwhile, Niwa chief scientist fisheries, Rosemary Hurst said as far as was known, Chatham Rise was the main nursery ground for hoki. She said smaller hoki nursery grounds were off the coast of Southland and the West Coast. "But there are never anywhere near the numbers [of juvenile hoki] you get on the Chatham Rise . . . which is by far the most important."

Chatham Rise nursery ground could have 95 per cent of the 2-year olds [hoki], she said.

Castle said research, to be included in its environment assessment as part of its marine consent application to the Environment Protection Authority, showed ocean floor mining would have little or no effect on juvenile hoki.

"A worst-case scenario is that we might cause a quarter of 1 per cent of the juvenile hoki to swim elsewhere. And for the most part they are already swimming at greater depths than our activities on the crest of the Rise."

The total area of CRP's planned operation would be 450 sq km, or 30 sq km a year over the 15-year lifetime of the project. Castle said the operation area equated to less than one quarter of 1 per cent of the Rise's 190,000 sq km.

He also said the Chatham Rise should not be confused with the more sensitive hoki spawning grounds off the West Coast and in Cook Strait.

- © Fairfax NZ News

Edison Investment Research Report Update: Chatham Rock Phosphate - 2014 to be a defining year

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Dear Chatham Rock Phosphate shareholder,

This report was released by Edison Investment Research in London last night and has just been filed with NZX.

Regards,

 

Chris Castle

Chief Executive Officer

Chatham Rock Phosphate Limited

Email: chris@crpl.co.nz

Cell: +64 21 558 185

Skype: phosphateking

www.rockphosphate.co.nz

 

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Allotment of Shares and Options

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Dear Chatham Rock Phosphate shareholder,

This announcement has just been released to NZX.

Best regards,

Chris Castle

CEO

Chatham Rock Phosphate Limited

Email: chris@crpl.co.nz

Cell: +64 21 558 185

Skype: phosphateking

www.rockphosphate.co.nz

 

14 January 2014

Allotment of Shares and Options

Chatham Rock Phosphate Limited (NZX: CRP) advises that it has today issued 672,217 ordinary shares at an issue price of $0.31 per share and 336,110 CRPOB options to qualified investors. This allotment has raised approximately $210,000 of new capital for CRP. 

Chris Castle

Chief Executive

Email: chris@crpl.co.nz

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NZX Announcement: Chatham Rock Phosphate appoints London corporate advisers for capital raising

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Dear Chatham Rock Phosphate Shareholder,

This announcement has just been released to NZX.

Regards,

Chris Castle

Managing Director

Chatham Rock Phosphate Limited

Email: chris@crpl.co.nz

Cell: +64 21 558 185

Skype: phosphateking

www.rockphosphate.co.nz

 

Media Release

24 December 2013

Chatham Rock Phosphate appoints London corporate advisers for capital raising

Chatham Rock Phosphate has appointed London corporate finance advisers Wimmer Financial to manage an international capital raising over coming weeks.

The financing, by private placement, is likely to be determined by a book build process managed in conjunction with Wimmer Financial.   The offering, for qualified investors, is likely to be the final capital raising required before CRP is fully permitted.

“As our project is well advanced in all other respects we see the granting of the second permit we require - the environmental or “Marine” consent - as a game changer for us,” according to Managing Director Chris Castle. 

He says an opportunity to invest on the same terms (including options) is unlikely to occur again.

“The recently granted mining permit, the first to be granted under new legislation, faced very rigorous scrutiny indeed. The success of this application bears tribute to the undeniable merits of the project.”

Mr. Castle said the project’s key merits include:

·         Chatham holds a strategic, multi-million tonne organic rock phosphate deposit uniquely positioned to access Asian and Australasian fertiliser markets

·         It has a 20 year mining licence

·         It has recently applied for new prospecting licences both east and west of its existing licence areas that could significantly increase the scope of resources.

Chatham is seeking NZ$6 million (net) to fund the environmental consent and corporate costs until Q3, 2014 when the environmental Marine Consent is expected to be granted. 

Edison Research presently values Chatham shares at NZ$2.04 on un-risked basis. 

Wimmer Financial is an international corporate advisory firm based out of London, UK, specialising in natural resources (mining, oil & gas, alternative energy) and real estate, with global reach through a network of close partners and clients all over the world.

Contact Chris Castle on 021 55 81 85 (mobile) or chris@crpl.co.nz

Contact Per Wimmer, CEO of Wimmer Financial LLP on (+44) 207 432 7501 (office) or

(+44) 77 88 75 76 77 (mobile) or Per.Wimmer@WimmerFinancial.com

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