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Kimber Resources (TSX-V: KBR) Inc.
The IPO was closed on July 12, 2002. 7,000,000 units were placed in the public offering at a price of $0.45 per unit by Canaccord Capital Corporation as Sponsor and Agent, and a further 500,000 units are being sold by private placement arranged by Canaccord to an accredited investor in Ontario. The issue was oversubscribed. Please note the issuance came with a full warrant.
Proceeds of Offering (including private placement): $ 3,037,500
Shares outstanding on completion of IPO and private placement: 13,396,690
Kimber Resources Inc. is a recently-listed exploration and development company drilling a mineral deposit with gold/silver values which, on the basis of Inferred resources, are exceptional for an open pit situation. The Monterde property lies in the Sierra Madre of Chihuahua State, northern Mexico between Glamis Gold's El Sauzal property and Minefinders' Dolores.
CURRENT SITUATION:
The Company is drilling and trenching its Monterde gold/silver property in the State of Chihuahua, Mexico. The property covers a low-sulphidation, epithermal, oxide gold-silver deposit. Inferred resources, confirmed by Mr. A. Burgoyne, P.Eng., independent geologist and described in the Company's Prospectus for its IPO, are 6,900,000 tonnes grading (at a 0.5 g/t gold cut-off) 2.26 g/t gold and 106.6 g/t silver in an open pit configuration with an estimated 4.4 to one strip ratio. This resource is open for enlargement in two directions and at depth.
Further information can be obtained through the Kimber website at: kimberresources.com
or by contacting Investor Relations at Kimber Resources, Continental Toll Free at: 1-866-824-1100 and ask for Tom Corcoran.
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