Waratah's ASX Listing Information Memorandum ("IM") Now Available
BRISBANE, AUSTRALIA -- (MARKET WIRE) -- 10/14/08 -- Waratah Coal (TSX
VENTURE: WCI) (Waratah) advises that the Information Memorandum dated
October 2, 2008 and the Supplementary Information Memorandum dated
October 13, 2008 (together "the IM") lodged as part of its Listing
Application to the Australian Stock Exchange Limited ("ASX") has been
made publicly available. The IM can be viewed on the Company's
website www.waratahcoal.com or on www.sedar.com.
On June 2, 2008 Waratah announced its intention to apply for dual
listing on the ASX, and on October 2, 2008 announced that it had
formally made its application to the ASX for the admission to the
Official List of the ASX and for Official Quotation of CDI's for the
shares issued in Waratah. Upon admission to the ASX, Waratah will
become dual listed with its securities listed on both TSX-V and ASX.
Waratah is not seeking to raise any additional funds as part of the
ASX listing process.
The ASX is host to a number of coal exploration and mining companies
and the Waratah Board consider that listing the Company's securities
in a market very familiar with coal development strategies will be of
significant benefit to the Company and its shareholders. The addition
of Waratah to the ASX would represent the listing of a significant
new coal exploration and development company in Australia.
The Board is of the view that a dual listing on the ASX will broaden
the shareholder base and will also add to the Company's options for
attracting corporate and project funding. The Board also considered
the significant demand from Australian retail and institutional
investors to dual list Waratah on the ASX, as several of these
parties are prevented from investing in securities listed on overseas
Sponsoring Broker for ASX dual listing
Waratah has previously announced that it has appointed specialist
Australian broker ABN AMRO Morgans ("AAM") as Sponsoring Broker for
Waratah's dual-listing on the ASX.
AAM is Australia's largest retail stockbroker with highly regarded
research and institutional capability and significant corporate
experience in executing successful coal transactions. Waratah will
gain significant exposure from AAM's unrivalled distribution
capability in Australia as the nation's largest retail stockbroker as
well as benefit from their extensive experience in the coal sector.
Waratah's strategy is to build shareholder value, through
acquisition, exploration and development of coal projects in
Australasia. This strategy is being developed by a synthesis of
Waratah's core skills in project evaluation, structured acquisition,
exploration and project development and operations, an area where
Waratah executives have significant experience.
Waratah recently announced that ongoing drilling on its Galilee Basin
Project, Queensland, Australia, had increased the total Inferred
Resource to 4.355 Billion tonnes. Recent drilling has also confirmed
the presence of premium quality coking coal at the Nymboida Project,
in New South Wales, Australia.
Waratah has recently had its listing classification on the TSX
Venture Exchange (the "Exchange") upgraded from Tier 2 to Tier 1.
Tier 1 is the Exchange's premier tier and is reserved for the
Exchange's most advanced issuers with the most significant financial
resources. Tier 1 issuers benefit from decreased filing requirements
and improved service standards.
Waratah has approximately 56.4 million shares outstanding, has
approximately A$40 million in cash and no debt.
For more information on the Company's Galilee Basin and other coal
projects, please visit the Waratah Coal website www.waratahcoal.com.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Waratah Coal Inc.
President and CEO
+61 7 3303 0692
Waratah Coal Inc.
Investor Relations - Canada
This announcement is originally distributed by Hugin. The issuer is
solely responsible for the content of this announcement.