 |   Wed Aug 1, 2007
SENNEN RECEIVES AUS$10,000,000 FROM COLLINGWOOD/OWNAVIEW SALE
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| | Mr. Ian Rozier, President and CEO of Sennen Resources Ltd. ("Sennen") is pleased to report on the receipt of the total sale price of AUS$10,000,000 from the sale of Sennen's interest in the Collingwood and Ownaview coal projects in Queensland, Australia, details of which were provided in a news release dated February 15, 2007.
Sennen currently has Cdn$15,500,000 in the Treasury with a further AUS$9,000,000 due from the sale of the Middlemount Coal deposit, for which bank guarantees have been provided (News Release dated June 28th, 2007).
"With the anticipated time and costs of continued evaluation for project development, especially in light of the capacity constraints and critical infrastructure bottlenecks that continue to hinder new coal mine development in Australia, we considered the sale of the Australian coal projects to be in the best interest of shareholders," stated Ian Rozier, President and CEO of Sennen.
Upon receipt of the balance of funds from the Middlemount transaction, Sennen would have approximately Cdn$23,500,000 in the treasury with approximately 44,500,000 shares issued and outstanding.
For more information, please contact:
Mr. Ian Rozier, President & CEO
Website: www.sennenresources.com
Email: info@sennenresources.com
#408-837 W. Hastings Street
Vancouver, BC V6C 3N6
Tel: 604 685 6851 Fax: 604 685 6493
The TSX Venture Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of the contents of this news release. |
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