Proactive Investor's  Instablog

Proactive Investor
Send Message
Proactiveinvestors is a leading multimedia news organization, investor portal and events management business with offices in New York, Sydney, Toronto and London. Proactiveinvestors operates five financial websites in four languages providing breaking news, comment and analysis on hundreds of... More
My company:
My blog:
  • Gunson Resources Receives $1.2M Capital Boost With Early Retirement Of Performance Bonds 0 comments
    Jul 5, 2013 12:34 AM

    Gunson Resources (ASX:GUN) has moved towards meeting its capital needs for 2013 after the Western Australian Department of Mines and Petroleum retired the $1.2 million Coburn Project Performance Bond.

    With $1.2 million in additional working capital now available and $0.5 million from an R&D tax rebate expected this quarter, Gunson will be well capitalised for the remainder of this year.

    The transition by the the Western Australian Department of Mines and Petroleum from environmental performance bonds to payment of annual levies into a Mines Rehabilitation Fund released the $1.2 million held in a term deposit to back a Coburn Project performance bond.

    Gunson became only one of the two companies to benefit from the transition to an annual levy system from the performance bonds, that started on 1 July, 2013.

    At the end of May 2013, the company separately held under $0.4 million in cash and short term deposits.

    The company previously said that the search for a new strategic partner for the Coburn zircon project had restarted. Both zircon and titanium dioxide minerals market have shown signs of resurgence.

    Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.

Back To Proactive Investor's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers


More »

Latest Comments

Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.