This is the printer-friendly version of this news item. Return to the regular version.

Media Release: November 19, 2003

Republic Gold Finalises IPO Prospectus

The Board of Republic Gold Limited ("Republic") is announcing that yesterday it lodged its IPO Prospectus with ASIC and that the IPO will open on 25 November, after the mandatory 7-day exposure period. The IPO seeks to raise $5.6 million, with Melbourne stockbroker, Lands Kirwan Tong underwriting the minium subscription level of $3.5 million. The Offer will close on 15 December.

The IPO invites investors to apply for a total of 28,000,000 shares at an issue price of 20 cents per share plus 14,000,000 free options to raise $5.6 million. Republic has reserved the right to accept over-subscriptions to the IPO of up to a further 10,000,000 shares at 20 cents each plus 5,000,000 free options to raise up to an additional $2,000,000.

Republic's directors are Mr. Tom Linardos as Non-Executive Chairman, Mr. John Kelly as Managing Director and Mr. Chris Roberts and Mr. Greg Barns as Non-Executive Directors.

Republic has put together a number of transactions to create its portfolio of projects and is concentrating its efforts in the Hodgkinson Basin in Far North Queensland. Republic intends to apply the highly successful orogenic geological model recently developed at the Fosterville Gold Mine in Central Victoria to its tenements in the Hodgkinson Basin. This geological model now sees Fosterville with a total gold endowment of more than 2,500,000 ounces of gold. The technical directors of Republic have more than 20 years of combined experience with Fosterville. Republic can see close similarities between the geology of Fosterville and that of a number of its projects in the Hodgkinson Basin. These projects are:-

In total, Republic has 3,246 square kilometres of ground in the Hodgkinson Basin. This will be the first time that any company with such technical experience will attempt to apply the orogenic gold model to such an impressive portfolio to the Hodgkinson Basin and follows in the footsteps of BHP Billiton who pegged its ground on the basis of the same model.

Republic has also reached agreement with Marlborough Resources NL ("Marlborough") to purchase Marlborough's 75 percent interest in its prospective Burraga/Lucky Draw tenement, located in the Lachlan Fold Belt, south of Bathurst in NSW. Marlborough Shareholders will vote to approve this transaction on 11 December. Republic sees Marlborough's Burraga/Lucky Draw tenement as fitting its strategy because of its early gold production potential from the existing resource of 107,000 ounces.

With improved infrastructure now available in the Hodgkinson Basin, Republic believes that it well placed to become a significant gold producer in 5 years.

Republic's prospectus can be downloaded from the website, located at:
http://www.republicgold.com.au/prospectus/.

For more information, please contact: Greg Barns ([email protected]) on 0419 691 846 or John Kelly ([email protected]) on 0418 577579.

This news item can be viewed on the Web at http://www.republicgold.com.au/news/2003-11-19.php.