Element 25 Ltd
Element 25 Ltd (ASX:E25) is listed on the Australian Securities Exchange.
See more information about Element 25 Ltd
Element 25 commences infill drilling at Butcherbird
Element 25 Ltd (ASX:E25) has commenced resource infill drilling at its 100% owned Butcherbird High Purity Manganese Project in Western Australia.
The 200-hole, 7,000-metre program aims to provide data for a revised JORC resource estimate.
The new resource is expected to upgrade the category at the planned starter pit area.
Ideally, this area will then go on to be upgraded to a maiden Ore Reserve, which is expected to be published with the pre-feasibility study (PFS).
Element recently received $1 million in cash as a result of the completion of the sale of the Holleton Project to Ramelius Resources Ltd (ASX:RMS).
The sale agreement was signed back in July 2018, which outlined the $1 million cash consideration and a 1% net smelter royalty on all future production from the project.
The cash will provide important working capital whilst the royalty ensures that shareholders will benefit from future exploration success as the project is explored.
This transaction is in line with the company's stated strategy to rationalise its project portfolio to allow the technical team to focus on the high purity manganese business at Butcherbird.
Other Element 25 Ltd news
- Element 25 and OM Holdings extend manganese offtake exclusivity period for Butcherbird Project
2020-12-17 - Element 25 shares hit 9-year high after Elon Musk says manganese will be key part of Tesla’s EV batteries
2020-09-28 - Element 25 sees 2020 as transformational as it works to bring Butcherbird Manganese Project into production
2020-09-22 - Element 25 further de-risks Butcherbird Manganese Project as tests confirm process water supply
2020-08-03 - Element 25 more than doubles target with heavily oversubscribed SPP raising $3.2 million
2020-07-23
