FND Finders Res.

 
TIDMFND 
 
FOR IMMEDIATE RELEASE: 20 MARCH 2009 
 
  Upon release of this announcement, Finders shares will recommence 
                         trading on the ASX. 
 
 
 
   FINANCING OF A$5.6 MILLION FOR WETAR COPPER PROJECT AND WORKING 
                               CAPITAL 
 
 
Finders Resources Limited ("Finders") is pleased to announce that  it 
has agreed to place 28 million  shares at 20 cents/9 pence per  share 
to raise A$5.6m  before financing charges  (final numbers subject  to 
exchange rate fluctuations).  The issue will  comprise two  tranches, 
with  the  first  tranche  of   6.4  million  shares  to  be   issued 
immediately, and a second tranche of 21.6 million shares whose  issue 
will be subject  to shareholder  approval. The funds  raised will  be 
applied to the  completion of  the Wetar  Copper Project  feasibility 
study and working capital. 
 
The placement consists  of up  to 25  million shares  at A$0.20  per 
share through Southern Cross Equities and 3 million shares at 9p  per 
share through FinnCap in London.  The initial tranche of 6.4  million 
shares are expected to  be issued on Wednesday  25th March 2009,  the 
balance of shares will be  issued subject to shareholder approval  at 
an Extraordinary General  Meeting to  be held  on or  about 22  April 
2009 
 
The placement has been  strongly supported by existing  shareholders, 
including RCF,  but also  includes  a significant  contribution  from 
Acorn Capital, new  to the  register, who will  become a  significant 
shareholder in  the  company  on  completion  of  the  share  issue. 
Established in 1999, Acorn Capital is a specialist investment manager 
focused solely on the microcap sector of the Australian share market. 
 
Finders Executive Chairman Dr Russell Fountain said today: 
 
"This raising  will put  the company  in a  strong position  to  move 
rapidly towards our goal of fast track development of the full  scale 
20,000 tpa copper project at Wetar. 
 
The 5tpd copper demonstration plant is performing above  expectations 
and, with  the  high  grade  of the  Wetar  resource,  directors  are 
confident that the economics of the expanded project will be  robust, 
even at current copper price levels. 
 
With the recent modest increases  in the copper price, and  continued 
strong institutional support  for the  company, we feel  we are  well 
placed to capitalize on any further rebound in the copper price which 
can be expected to accompany the next cycle of economic growth." 
 
 
For further information please contact 
 
Finders Resources Ltd: 
Russell         Executive Chairman          +61 2 9211 8299 
Fountain 
Chris Farmer    Managing Director           info@findersresources.com 
 
Financial PR: 
Doug Macdonald  Capital      Group      (in +61 424 255 959 
                Australia) 
Nick Elwes      College Hill (in the UK)    +44 20 7457 2020 
 
RFC Corporate Finance Ltd - Nomad: 
Rob Adamson     Managing Director           +61 2 9250 0000 
Stuart Laing    Executive Director          +61 8 9480 2500 
 
FinnCap -  Finders' Broker for the AIM market: 
Mathew Robinson Corporate Finance Director  +44 20 7600 1658 
Joe Lunn        Analyst                     +44 20 7600 1658 
 
Southern Cross Equities: 
David Keogh     Director of Private Clients +61 2 9231 0880 
 
 
 
Background on Finders Resources 
Finders, listed on AIM and ASX,  is the operator of the Wetar  Copper 
(92% and  earning),  and  Ojolali  Gold-Silver  Projects  (72%  with 
option) in Indonesia, and holds an investment in Geopacific Resources 
NL, an ASX-listed company with  active exploration programs for  gold 
and copper in Fiji. 
At the Wetar Project,  as part of a  definitive feasibility study,  a 
demonstration SX-EW plant with 5t per day copper cathode capacity was 
commissioned in  early  February 2009  and  is permitted  to  process 
100,000t of  ore  from  the  Kali Kuning  deposit.   The  Company  is 
targeting commercial production of 20-25,000 tonnes per year  cathode 
by early  2010,  subject  to accelerated  schedules  for  engineering 
design work and project funding. 
At the Ojolali Project,  Finders controls what it  considers to be  a 
major new  epithermal  gold district,  and  has been  undertaking  an 
extensive  exploration  program   comprising  detailed  drilling   to 
establish an initial mining resource, supported by extensive  surface 
geophysical  and  geochemical  surveys.  Finders  believes  that  the 
Ojolali project has strong potential to generate short-term cash flow 
through open  pit CIL/CIP  development of  the gold  resource at  the 
Jambi Oxide gold deposit. 
For further information  on results  previously reported  and a  full 
resource statement please visit our website www.findersresources.com. 
 
 
Disclaimer 
This announcement  may or  may not  contain certain  "forward-looking 
statements". All  statements,  other than  statements  of  historical 
fact, which address activities,  events or developments that  Finders 
believes, expects or anticipates will or may occur in the future, are 
forward-looking statements. Forward-looking statements are often, but 
not  always,  identified  by  the  use  of  words  such  as   "seek", 
"anticipate", "believe", "plan",  "estimate", "targeting",  "expect", 
and "intend" and statements  that an event  or result "may",  "will", 
"can", "should", "could", or "might"  occur or be achieved and  other 
similar expressions.  These  forward-looking statements  reflect  the 
current internal  projections,  expectations or  beliefs  of  Finders 
based on information  currently available to  Finders. Statements  in 
this document that are forward-looking and involve numerous risks and 
uncertainties that could  cause actual results  to differ  materially 
from expected results are based on the Company's current beliefs  and 
assumptions  regarding  a  large  number  of  factors  affecting  its 
business. Actual results may differ materially from expected results. 
There can be no assurance that (i) the Company has correctly measured 
or identified all of the factors affecting its business or the extent 
of their likely impact, (ii) the publicly available information  with 
respect to these factors on which the Company's analysis is based  is 
complete or accurate, (iii) the Company's analysis is correct or (iv) 
the Company's strategy, which is based in part on this analysis, will 
be successful. Finders expressly  disclaims any obligation to  update 
or revise any such forward-looking statements. 
 
=--END OF MESSAGE--- 
 
 
 
 
This announcement was originally distributed by Hugin. The issuer is 
solely responsible for the content of this announcement. 
 

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