Shareholder Letter
July 08 2009 - 2:03AM
UK Regulatory
TIDMCLN
RNS Number : 3074V
Carlton Resources PLC
08 July 2009
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8 July 2009
Carlton Resources Plc ('Carlton' or the 'Company')
Shareholder Letter
The Directors of Carlton Resources Plc ('Carlton' or the 'Company') advise that
the following update was posted to shareholders today.
"Dear Shareholder,
With the recent EGM now completed I would like to take the opportunity to update
you on the plans to rebuild Carlton. Over the past six months the Board has
concentrated on preserving cash, seeking new sources of funding and assessing
new opportunities.
1. The preservation of cash
The focus over the short term period from January 2009 to date has been the
preservation of existing cash reserves of the Company by cutting back all
expenditures to a minimum level.
These measures have improved the Company's position by reducing its cash burn
rate.
2. New sources of funding
A placing of shares to a range of professional investors has been successfully
completed, resulting in a further GBP400,000 being raised by the Company. These
funds will be utilised to provide working capital, whilst we seek new
opportunities for the Company.
3. To seek new opportunities for the Company
During this period we have assessed a large number of projects that may be
suitable for Carlton. Of the opportunities that we have assessed to date, we
are now in the final due diligence stages on the most prospective of these with
a view, should such due diligence prove successful, to announcing a transaction
in the near future.
Please don't hesitate to contact me on info@carltonresourcesplc.com if we can be
of any assistance and we hope to bring you further news in the near term. I
would be happy to email you or speak with you.
Yours sincerely,
Martyn Churchouse
CEO"
For further information please contact:
Martyn Churchouse(+44) 77 3815 0889
Mark Burchnall(+44) 75 4989 2425
Richard Jarvis(+61) 8 9322 2164
Carlton Resources Plc
Simon Raggett
Warren Pearce (+44) 20 7409 3494
Strand Partners Limited
or visit http://www.carltonresourcesplc.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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