RML - Rusina Mining
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RUSINA’S MANAGING DIRECTOR EXERCISES 3 MILLION OPTIONS AT PREMIUM TO MARKET PRICE
Rusina Mining NL (ASX:RML, AIM:RMLA) is pleased to announce that 3 million options have today been exercised by the Company’s Managing Director and Chief Executive Officer, Mr Robert Gregory.
The options were exercised at a price of A$0.164 cents – representing a 26% premium to Rusina’s closing price on the ASX last night of A$0.13.
“The exercise of the options above the current market price is a clear signal to our valued shareholders, and the broader equities market, that Rusina’s management and the Board firmly believes that the ordinary shares on issue in this Company and as traded on the ASX, are significantly undervalued,” Mr Gregory said.
“Rusina has emerged in 2008 as a maiden nickel producer from our flagship Acoje project in the Philippines, has struck financial, research, project development and mining agreements with international and Philippine national resources majors, and is well placed for project scale-up with little dilution to existing shareholders.
“That is a significant position in this current equities climate for any young producer and the exercise of options above market values is testimony to what we see is a solid near, medium and long-term outlook for Rusina.”
Yours faithfully
Mark Hanlon
CFO & Secretary
http://imagesignal.comsec.com.au/asxdata/20080812/pdf/00868799.pdf
Rusina Mining NL (ASX:RML, AIM:RMLA) is pleased to announce that 3 million options have today been exercised by the Company’s Managing Director and Chief Executive Officer, Mr Robert Gregory.
The options were exercised at a price of A$0.164 cents – representing a 26% premium to Rusina’s closing price on the ASX last night of A$0.13.
“The exercise of the options above the current market price is a clear signal to our valued shareholders, and the broader equities market, that Rusina’s management and the Board firmly believes that the ordinary shares on issue in this Company and as traded on the ASX, are significantly undervalued,” Mr Gregory said.
“Rusina has emerged in 2008 as a maiden nickel producer from our flagship Acoje project in the Philippines, has struck financial, research, project development and mining agreements with international and Philippine national resources majors, and is well placed for project scale-up with little dilution to existing shareholders.
“That is a significant position in this current equities climate for any young producer and the exercise of options above market values is testimony to what we see is a solid near, medium and long-term outlook for Rusina.”
Yours faithfully
Mark Hanlon
CFO & Secretary
http://imagesignal.comsec.com.au/asxdata/20080812/pdf/00868799.pdf
