A$20 million over subscribed fund raising

 
TIDMFND 
 
For Release: 4th August 2009 
 
                      FINDERS RESOURCES LIMITED 
 
  Finders placement oversubscribed, raising A$20 million subject to 
shareholder approval.  Share Purchase Plan for existing shareholders 
                            at same terms 
 
Finders Resources  (FND)  is pleased  to  announce that  its  broker, 
Southern Cross Equities, has received firm commitments from investors 
for a placement of  new ordinary shares totaling  A$20 million at  an 
issue price of A$0.33 per share.  The placement will be conducted  in 
two tranches, with  16.6 million  shares to  be issued  in Tranche  1 
within one week. The  second tranche will  be subject to  shareholder 
approval at an  extraordinary general meeting  of shareholders to  be 
held in early September. 
 
With very strong demand from institutional and private investors, the 
original target of A$15 million has been exceeded, and Directors have 
agreed  to   accept  subscriptions   totalling  A$20   million.   New 
institutional subscribers  to  the  placement  include  Taurus  Funds 
Management Pty Ltd and Straits Resources Ltd, plus strong  additional 
commitments from existing shareholders,  including Acorn Capital  and 
RCF. 
 
In addition, subject to ASX approval, the Company will offer a  Share 
Purchase  Plan  (SPP)  to  Australian  and  New  Zealand   registered 
shareholders as of record  date 3 August 2009  to participate in  the 
equity raising by  subscribing up  to A$10,000  for new  shares at  a 
price of  A$0.33.  If  fully  subscribed,  the  SPP  would  raise  an 
approximately AUD$4.9 million  additional to  the current  placement. 
Letters to shareholders will be distributed by Computershare. 
 
Funds raised will be applied to repaying the company's US$5.0 million 
debt facility which is due by 31 December 2009. The balance of  funds 
raised will be used  for completion of the  Feasibility Study at  the 
Wetar Copper Project in  Indonesia and for  post feasibility work  to 
progress the project towards full development. 
 
Russell Fountain, Finders Chairman commented:  "We are delighted with 
the strong  support for  this fundraising,  which reflects  the  high 
quality of our Wetar copper project,  and the ability of our  company 
to operate successfully in Indonesia.  We welcome Taurus and  Straits 
as significant new  shareholders and the  continued support from  our 
existing shareholders. The retirement  of our existing debt  facility 
will simplify  the Company's  balance sheet  going forward,  and  the 
additional funding subscribed will  enable us to  continue on a  fast 
track for development of the full scale Wetar Copper Project." 
 
For further information please contact 
 
Finders Resources Ltd: 
Russell Fountain,  Chairman, [phone]   or  Chris Farmer, 
Managing Director, [e-mail] 
 
Financial PR: 
Doug Macdonald, [phone], Capital Group (in Australia) 
Paddy Blewer or Nick Elwes, [phone], College Hill (in the 
UK) 
 
RFC Corporate Finance Ltd - Nomad:  Rob Adamson, [phone] or 
Stuart Laing, + 61 8 9480 2500 
 
FinnCap -  Finders' Broker for the AIM market: Mathew Robinson, +44 
(0) 20 7600 1658 
 
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This announcement was originally distributed by Hugin. The issuer is 
solely responsible for the content of this announcement.