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DJ All Star Minerals Plc Quarterly Update

 
TIDMASMO 
 
ALL STAR MINERALS PLC 
                         ("All Star" or "the Company") 
 
                               Quarterly Update 
 
The board of All Star provides its quarterly update. 
 
Investment Opportunities 
 
Since the last quarterly update on 12 July 2017, the board has continued to 
review a number of potential opportunities for the Company. Whilst at this time 
there can be no guarantee as to the outcome of these opportunities, the board 
is focused on securing a suitable transaction for All Star. 
 
Holding in NQ Minerals Plc ("NQ") 
 
The board notes the further progress of NQ Minerals plc ("NQ"), a company in 
which All Star holds 5,519,545 shares, representing 1.98% of its issued share 
capital. 
 
In July 2017, NQ announced that it was moving onto AIM instead of the 
previously announced Standard List, allowing NQ access to a wide range of 
investors including institutional investors for future financing requirements. 
Also in the same month, NQ entered into a US$7m secured loan facility with a 
12% coupon with an institutional investor. The terms of the facility included a 
gold purchase deed over a 3 year period and so far, US$5m has been drawn down 
by NQ. 
 
On 2 August 2017, NQ announced that it has issued 6,013,447 ordinary shares as 
further part of the consideration to the vendors of Keen Pacific Pty Ltd. On 
the same day, it was announced that holders of GBP145,000 of convertible loan 
notes had elected to convert into ordinary shares at a conversion price of 6p 
leading to a further 2,416,667 ordinary shares being issued. 
 
On 11 August 2017, the Company announced the appointment of Adrian Lungan as a 
Non-Executive Director. Adrian was formerly the CEO of Keen Pacific, the 
company which also owned Ivy Resources Pty Ltd and Hellyer Gold Mines Pty Ltd. 
This appointment further strengthens the board of the NQ and provides 
additional transparency on its objective of creating new mining operations and 
near term production. 
 
On 11 August 2017 and 26 September 2017, NQ issued 1,408,334 and 9,147,132 new 
ordinary shares, raising AU$149,000 and GBP781,787 respectively. 
 
The closing mid-price of NQ shares as at 22 October 2017 was 9.5 pence. 
 
The Directors of All Star are responsible for the contents of this 
announcement. 
 
This announcement contains inside information for the purposes of Article 7 of 
EU Regulation 596/2014. 
 
ENQUIRIES: 
 
All Star Minerals Plc 
Tomas Nugent, Chairman 
07963-455663 
 
NEX Corporate Adviser 
Cairn Financial Advisers LLP 
Liam Murray 
020 7213 0880 
 
 
 
END 
 

(END) Dow Jones Newswires

October 23, 2017 11:06 ET (15:06 GMT)