Sport Investors League
  • Politics
  • Stocks
  • Investing
  • Business

Sport Investors League

  • Politics
  • Stocks
  • Investing
  • Business
Investing

Element 25 Announces Share Purchase Plan

by admin May 21, 2024
May 21, 2024
Element 25 Announces Share Purchase Plan

Element 25 Limited (E25 or Company) (ASX: E25; OTCQX: ELMTF) will offer eligible shareholders the opportunity to participate in a non-underwritten share purchase plan (SPP), targeting to raise $5 million (before costs).

Under the SPP, eligible Element 25 shareholders, being shareholders who had a registered address in Australia, New Zealand, Hong Kong or Germany on Element 25’s register on the Record Date (5.00pm Australian Western Standard Time on Monday, 20 May 2024), will have the opportunity to apply for up to $30,000 of New Shares free of any brokerage, commission or transaction costs, subject to the terms and conditions that will be set out in the SPP Booklet to be despatched to eligible shareholders in due course. The SPP will be priced at $0.27 which represents a 14 per cent discount to the volume weighted average price (VWAP) of Element 25 shares over the last five trading days prior to this announcement, rounded to the nearest whole cent.

STRATEGIC RATIONALE

In January 2024, the Company announced that it had completed a Feasibility Study (Study) to investigate the potential to expand the production of manganese concentrate at the Company’s 100% owned Butcherbird Project (Project), located in the southern Pilbara region of Western Australia1. The Study demonstrated strong economics with robust economic returns and rapid capital payback. Expansion of the processing facility at Butcherbird aligns with Element 25’s strategy for its planned battery grade high purity manganese sulphate monohydrate (HPMSM) project to be built in Louisiana, USA in partnership with General Motors LLC and Stellantis NV2.

Funds raised from the SPP will enable the Company to progress its current prime projects at the Butcherbird mine site (located in the southern Pilbara region of Western Australia), as part of the Butcherbird Stage 2 Expansion Project, as well as continuing to support the high purity manganese sulphate monohydrate (HPMSM) project to be built in Louisiana, USA in partnership with General Motors LLC and Stellantis NV.

Butcherbird Stage 2 expansion activities include initial engineering, procurement and project management activities prior to the completion of project financing and final investment decision (FID).

Click here for the full ASX Release

This post appeared first on investingnews.com

0
FacebookTwitterGoogle +Pinterest
previous post
SNX to Follow up 1270 g/t Silver Intercept in Hole BHD006 at Blackhawk, Nevada, USA
next post
Yalgoo Fieldwork Commences Over Main Target Areas

Related Posts

Drilling Planned for Resource Expansion at Whundo Copper...

December 5, 2024

SAGA Metals Announces Closing of $700,000 Private Placement...

December 25, 2024

RIU Explorers Conference – Presentation

February 18, 2025

Osisko Metals Announces Significant Increase in Mineral Resources...

November 15, 2024

ION Announces US$13.5M Joint Venture on Urgakh Naran,...

March 28, 2025

David Morgan: Silver to US$40 in 2025, Then...

November 28, 2024

CEOL Application Process Update

April 5, 2025

Cyclopharm Signs US Agreement with HCA Healthcare for...

January 23, 2025

NorthStar Gaming Launches Spring Tournament Series with Up...

March 21, 2025

Can Trump Fire Fed Chair Jerome Powell? Inside...

May 1, 2025

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent

    • Find Highest Probability Counter-Trend Setups

      June 26, 2025
    • Bernie Moreno wants Senate to call for Nobel Peace Prize to go to Trump

      June 26, 2025
    • Iran, Israel and US agree that Islamic Republic nuclear sites were ‘badly damaged’ despite leaked intel report

      June 26, 2025
    • UN’s atomic agency’s Iran policy gets mixed reviews from experts after US-Israel ‘obliterate’ nuclear sites

      June 26, 2025
    • Democratic congressman hurls profanity-laced message at Stephen Miller

      June 26, 2025

    Categories

    • Business (997)
    • Investing (2,471)
    • Politics (3,067)
    • Stocks (1,095)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: sportinvestorsleague.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 sportinvestorsleague.com | All Rights Reserved