Element 25 Ltd
Element 25 Ltd (ASX:E25) is listed on the Australian Securities Exchange.
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Element 25 does deal to sell non-core royalty streams
Element 25 Ltd (ASX:E25) has entered into a binding sale and purchase agreement with to dispose of a portfolio of royalties relating to several project areas.
The consideration for the deal, which is subject to conditions, is $500,000 worth of shares in SilverStream SEZC dba Vox Royalty.
One condition is the successful listing of SilverStream on the TSX by no later than 15 May 2020.
Proceeds from the eventual sale of the Silverstream shares will be used to continue the development of E25's flagship Butcherbird Project in Western Australia.
Non-dilutive funding opportunity
E25 Managing Director Mr Justin Brown commented, "E25 is very pleased with this transaction which will add important additional capital to the company's balance sheet.
"The sale is in line with the company's strategy of identifying funding opportunities for the Butcherbird Project which minimise dilution and maximise shareholder returns."
Proceeds to fund Butcherbird progress
Proceeds from the eventual sale of the Silverstream shares will be used to continue the development of E25's flagship Butcherbird Project in Western Australia.
The company intends to produce high purity manganese products including manganese sulphate for lithium-ion batteries and electrolytic manganese metal (EMM).
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
