Lafayette Mining Limited bought out by Trident

LAFAYETTE MINING LIMITED
(SUBJECT TO DEED OF COMPANY ARRANGEMENT)
ACN 076 390 451


On 4 December 2007, the securities of Lafayette Mining Limited (Company) were suspended from official quotation at the Company's request.

On 18 December 2007, the Directors of the Company appointed Peter McCluskey and Roderick John Sutton of Ferrier Hodgson, Level 29, 600 Bourke Street, Melbourne, as joint and several Administrators of the Company.

At a meeting of the Company’s creditors on 18 March 2008, the creditors resolved to approve the execution of a Deed of Company Arrangement (DOCA) which was subsequently executed on 9 April 2008.

The Deed Administrators have sold the Company’s shareholding in Lafayette Philippines Incorporated which owned 74% of the Rapu Rapu polymetallic project to the minority holder.

The DOCA contemplated the recapitalisation of the Company with a view to having the securities of the Company reinstated to official quotation.

To this end, on 26 May 2009, the Deed Administrators entered into a Reconstruction Deed with Trident Capital Pty Ltd ACN 100 561 733 (Trident), a party experienced in undertaking corporate reconstructions.

Trident is currently working through the necessary steps to recapitalise the Company and to have the securities of the Company reinstated to official quotation. A Notice of Meeting proposing the required resolutions to give effect to the recapitalisation of the Company will be forwarded to shareholders shortly.

For all inquiries please contact Ian Morton on (03) 9604 5131.