RMLA Rusina Mining

 

TIDMRMLA 
 
RNS Number : 2696Z 
Rusina Mining NL 
18 September 2009 
 

FOR IMMEDIATE RELEASE 
               18 September 2009 
 
 
 Rusina Mining NL 
("Rusina", "Rusina Mining" or the "Company") 
 
 
Placing of new ordinary shares to raise GBP3.00 million 
 
 
Rusina Mining NL today announces that the Company's broker, Mirabaud Securities 
LLP ("Mirabaud"), has placed a total of 57,760,800 new ordinary shares ("Placing 
Shares") in Rusina - an Australian explorer developing the Acoje nickel-chromite 
project on Luzon Island in the Philippines - to UK-based institutional clients 
of Mirabaud, at a placing price of 5.25p per Placing Share (the "Placing") to 
raise approximately GBP3.00 million. Rusina's shares are traded on AIM and 
listed on the Australian Stock Exchange ("ASX"). 
 
 
The proceeds will be utilised primarily for working capital and to fund only if 
and when as necessary, any Rusina obligation for any contingencies arising from 
European Nickel's current 40% farm-in to the Acoje nickel laterite heap leach 
project. 
 
 
European Nickel has earned to date a 20% interest in the project under a broader 
farm-in commitment to earn a 40% project interest by fully funding the current 
US$10 million definitive feasibility study, including construction of a trial 
nickel heap leach operation, at Acoje. The study is on schedule for completion 
by the end of the June quarter next year. 
 
 
Under the placing terms, 36,760,800 of the new ordinary shares have been issued 
in accordance with the 15% provision rule applying to total issued shares in 
Rusina (the "First Placing Shares"). The issue of the remaining 21,000,000 
ordinary shares in Rusina (the "Second Placing Shares") will be subject to a 
vote of Rusina shareholders at general meeting in Australia proposed for 29 
October, 2009.  A circular to shareholders will be sent out shortly. 
 
 
Application has been made to the London Stock Exchange for the First Placing 
Shares, which will on issue rank pari passu with the existing ordinary shares in 
issue., for admission to trading on AIM. 
 
 
For further information, please contact: 
 
 
+------------------------------------+----------------------------------+ 
| Mark Hanlon                        |                 + 61 8 9226 1111 | 
+------------------------------------+----------------------------------+ 
| Rusina Mining NL                   |                                  | 
+------------------------------------+----------------------------------+ 
|                                    |                                  | 
+------------------------------------+----------------------------------+ 
|                                    |                                  | 
+------------------------------------+----------------------------------+ 
| Mirabaud Securities LLP            |                 +44 207 878 3362 | 
| Peter Krens                        |                                  | 
|                                    |                                  | 
+------------------------------------+----------------------------------+ 
| Beaumont Cornish Limited           |                 +44 207 628 3396 | 
+------------------------------------+----------------------------------+ 
| Roland Cornish                     |                                  | 
+------------------------------------+----------------------------------+ 
|                                    |                                  | 
+------------------------------------+----------------------------------+ 
|                                    |                                  | 
+------------------------------------+----------------------------------+ 
 
 
ENDS 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 IOESFFFMWSUSELU 
 

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