Element 25 Ltd
Element 25 Ltd (ASX:E25) is listed on the Australian Securities Exchange.
See more information about Element 25 Ltd
Element 25 debuts $1.5 million Butcherbird manganese PFS capital raising
Element 25 Ltd (ASX:E25) (FRA:QFP) has launched a $1.5 million share purchase plan targeted at its existing investors.
The capital raising prices new shares at 17.5 cents each, with shareholders that were registered to Australian, German, Hong Kong, Chinese and New Zealand addresses yesterday eligible to take up the offer.
Element 25 executive director Justin Brown said today: "The additional funds under the share purchase plan (SPP) will be applied to a variety of purposes.
"Principally (they) will be applied to the completion of the company's pre-feasibility study (PFS) to assess in more detail the pathway to commercialisation for the company's 100%-owned Butcherbird manganese resource and for working capital purposes."
Test work from Butcherbird ore has produced very high purity 99.95% manganese metal.
The company previously known as Montezuma Mining Company (ASX:MZM) has been working towards a 2019 delivery of its PFS for the project.
In April 2019 Element 25 upped the manganese resource for the project by 34% to 26.3 million tonnes.
Other Element 25 Ltd news
- 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 - Element 25 raising up to $5 million to accelerate Butcherbird Manganese Project development
2020-07-06 - Element 25 opens higher after grant of key mining lease for Butcherbird Manganese Project
2020-06-30
