Waratah Resources Limited - Special Call

Waratah Resources Limited announced that, following the completion of its capital raising, it is streamlining its business to greater leverage its key strengths. The company will create two new divisions - African iron ore and Australian-focused commodities. Funds from the recent placement will go toward the planned exploration program in Gabon, including the exploration and development of new prospective iron ore licences. In Australia, Waratah will establish a commodities division that will focus on developing Australian assets. Commodities targeted include iron ore, thermal and coking coal, copper, nickel and cobalt with the company evaluating acquisition opportunities in partnership with project level and strategic end-user clients. The new commodity business intends to make select commodities available to end users utilising the company's existing relationships with international conglomerates and through agency agreements with direct mines.

Waratah Resources Limited (ASX:WGO) has received interests for its Congolese assets. Waratah has been approached by a number of parties interested in acquiring its Congolese assets and is currently engaged in preliminary confidential discussions.