Company Announcement - Appointment of Administrators

We wish to advise that Darren Weaver and Andrew Saker of Ferrier Hodgson have today been appointed as joint and several Voluntary Administrators of View Resources Limited and its subsidiaries by resolution of the board.

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Trading Halt

Pursuant to Listing Rule 17.1, the Company requests a trading halt from opening of business Thursday 7th February 2008, pending a review of production and cash flow forecasts at Bronzewing and the release of an announcement.

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Bronzewing Update

The Board of Directors of View Resources Limited met on the site of the Bronzewing mine yesterday to review the January performance and the outlook for the immediate future.

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Quarterly Activity Report for Period Ended 31 December 2007

During the December 2007 quarter the Company made significant progress both operationally and corporately. The Bronzewing Gold Project moved towards achieving a steady state of operation with 10,300 ounces produced in December. View also considered a range of alternative financing options to the current bank debt in order to best place the Company going forward and has entered into an agreement with JV partner Mincor to sell View’s 30% stake in Carnilya Hill.

 

As a result, View is now positioning itself to take full advantage of the current gold market, by being totally debt free, unhedged, and moving to steady state production.

 

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View Sells 30% Stake in Carnilya Hill

View Resources Ltd (ASX: VRE) is pleased to announce the signing of a Heads of Agreement for the sale of its 30% stake in the Carnilya Hill Nickel Project to Mincor Resources NL in a package totalling $25 million.

 

The deal will see View become completely debt free enabling the Company to focus on the Bronzewing Gold Project as full production is achieved at an annualised 120,000 ounces.

 

View’s Managing Director Tim Gooch said, “This is a very good outcome for View, particularly as the gold price continues to climb to record highs with our company completely unhedged.  We are looking to focus the future growth of the Company on our 100% owned Bronzewing gold mine, which produced 10,300 oz in December 2007”.

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Bronzewing’s December Quarterly Gold Production Increases 45% to 25,400 Ounces

View Resources Ltd (ASX: VRE) is pleased to announce that its Bronzewing mine produced 10,300 ounces of gold in December, as the ramp up to steady production progresses to achieve the targeted +120,000 ounces per annum.  December quarter’s production increased by 45% from the previous period (17,500ozs) to 25,400 ounces on the back of both underground mines starting to move into a stoping production phase by mid December.

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Exploration Success at Bronzewing

View Resources (ASX: VRE) is pleased to announce that good grade intercepts from the preliminary composite assays have been returned in three of the four RC (reverse circulation) holes drilled on the Karra project at the company’s Bronzewing gold mine.  These results include:

 

• 12 metres at 1.45g/t;
• 8 metres at 6.06g/t;
• 4 metres at 6.05g/t; and
• 4 metres at 4.21g/t.

 

Follow up RC drilling at Katherine Well has also identified broad zones of mineralisation including 67 metres at 0.53g/t providing encouragement that high grade shoots could be developed within this structure that has already been identified to extend over one kilometre. Earlier RAB drilling results included 4 metres at 7.5 g/t.

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Open Briefing - Bronzewing Review & Outlook

View Resources Limited's Managing Director, Tim Gooch, interviewed by Open Briefing.

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8,830 Ozs Produced at Bronzewing in October & Carnilya Hill on Track

View Resources Limited (“View” or “Company”) confirms that it remains on schedule to complete its operational ramp up at the Bronzewing Gold project during the current quarter, with production targeted at 30,000 ounces.

 

October’s production of 8,830 ounces represents a 50% increase over the previous quarter’s monthly average, providing further evidence of the production ramp-up on site as detailed in recent announcements.  This performance takes Bronzewing another significant step closer to achieving its average annualised forecast of 120,000 ounces.

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Company Update Presentation for Placement of Shares

The following presentation was made by View Resources to institutional and sophisticated investors as part of the recent placement of 53 million shares.

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View Raises $10.6 Million

View Resources Limited (View) has today received commitments to place 53 million new shares at 20c for $10.6 million to provide the Company with sufficient short term contingency funding for the Bronzewing operation as well as cover the recent unbudgeted cost of de-hedging. These funds were placed within the Company’s remaining 15% as per ASX listing rule 7.1 and are not therefore subject to shareholder approval.

 

The placement, which was over-subscribed, was taken up by institutional and sophisticated investors who took part in the July 2008 placement both in Australia and the United Kingdom, where the Company has built up a strong support base over the past year.  Both of View’s major shareholders, Austral-Asia Resources and Infrastructural Investments Pty Ltd, a member of the IMC Resources Group, and Lion Selection Limited continue to support the Company and have participated in this placement.

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Trading Halt

Pursuant to Listing Rule 17.1, the Company requests a further trading halt from opening of business Tuesday 30th October 2007, pending the release of an announcement concerning a fund raising.

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Bronzewing Performance Update

View Resources (ASX: VRE) is pleased to report that the ramp up to full operational production at the Bronzewing Gold Project is nearing completion.  Many of the key operational issues have now been overcome as the Company drives towards the monthly 10,000 oz target that equates to the annualised production figure of 120,000 oz, making Bronzewing a substantial Australian gold producer.

 

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Bronzewing New Funding Agreed

View Resources proposes to undertake a rights issue to raise $10 million. The Company’s major shareholder Austral-Asia Resources and Infrastructural Investments Pty Ltd, a member of the IMC Resources Australia Group (“IMC”) has indicated an intention to fully underwrite the proposed rights issue, subject to the terms being finalised and a formal underwriting document being agreed. 

 

In parallel with negotiations for underwriting the proposed rights issue, View Resources is in discussions with IMC in relation to securing a more appropriate debt facility which may include a convertible note to replace the current Investec loan.

 

Full details of the rights issue and new debt facility (subject to shareholder approval if required) will be announced to ASX in due course.

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Annual Report 2006-2007

View’s operations in 2006/2007 involved the recommissioning and commencement of operations and the production of gold bullion from the Bronzewing mine.  There was no production from the Carnilya Hill nickel mine which remained on care and maintenance.

 

The focus for the year was to successfully restart the Bronzewing Project on time and on budget during the June quarter 2007.  In addition View was active in supporting Mincor, through the Carnilya Hill joint venture, as the exploration phase of the Carnilya Hill project progressed toward a bankable feasibility study and a decision to restart mining.

 

View Resources can look forward to being an active producer of both gold and nickel by late 2007.

 

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Bronzewing Final Hedge Close out