GUNSON RESOURCES LIMITED
SHARE PURCHASE PLAN
16th November 2009
The Directors of Gunson Resources Limited (Gunson) are pleased to announce a second Share Purchase Plan (SPP) for 2009.
Gunson has initiated this second SPP Offer in 2009 for two reasons. The first is the need for additional working capital to help fund the Company’s Bankable Feasibility Study (BFS) on the Mount Gunson Copper Project, along with first pass drilling programs at Tennant Creek (gold-copper) and Fowler’s Bay (nickel). The second is to utilise the opportunity given to ASX listed companies by the Australian Securities and Investments Commission (ASIC) when it raised the SPP application limit from $5,000 to $15,000 several months after Gunson’s previous SPP in February 2009. Gunson has been granted a waiver from the present ASX Listing Rules to extend the SPP application limit from $5,000 to $15,000 and to allow Gunson to undertake a second SPP in the stipulated 12 month period.
Those shareholders who participated in the February 2009 SPP may purchase Gunson shares valued at the difference between their February 2009 outlay and $15,000, whereas those who did not participate may purchase up to $15,000 of shares. Gunson’s directors all intend to take up their full entitlement in the SPP.
Pricing of the Offer is based on a 14% discount to the average closing price of ordinary shares in Gunson traded on ASX in the five trading days prior to announcement of this SPP.
As stated above, the additional capital to be raised from the SPP is to help fund the BFS on the shallow copper deposits at
D N HARLEY
MANAGING DIRECTOR
Telephone: (08) 9226 3130
Facsimile: (08) 9226 3136
Email: enquiries@gunson.com.au
Website: www.gunson.com.au
Address: PO Box 1217, West Perth
Western Australia 6872