Breakaway Announces $3.6M Rights Issue to Underpin Nickel Exploration Push
15/12/09 ASX Release
Prospectus for Fully Underwritten Non-Renounceable Rights Issue
Breakaway Resources aims to become one of Australia's leading mining and exploration companies.
2009 has seen Breakaway sharpen its focus on priority exploration projects within the Eastern Goldfields of Western Australia; an area we believe offers the most attractive opportunities for future exploration success.
Our objectives are:
To discover a stand alone nickel sulphide deposit of not less than 30Kt nickel metal
@ 3% Ni (in Reserve);
Maximise shareholder wealth for non-core assets; and
To use gold exploration as a short-term leveraging opportunity.
Our objectives will be achieved by
pursuing the following strategy:
Focus exploration on priority targets within the Eastern Goldfields of Western Australia;
Commence drilling of priority nickel targets before end of 2009 calendar year;
Ongoing assessment of priority gold targets located on the West Kambalda Project; and