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ELEMENT 25 LIMITED — Capital/Financing Update 2019
Jun 10, 2019
64810_rns_2019-06-10_627d4978-8ba8-4236-8ce6-50159777d199.pdf
Capital/Financing Update
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ASX ANNOUNCEMENT
11 June 2019
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BurnVoir Appointed Financial Adviser to Secure Development Funding for Butcherbird
Element 25 Limited ( ASX:E25 ) ( E25 or Company ) is pleased to announce the appointment of leading independent finance advisory group BurnVoir Corporate Finance ( BurnVoir ) as financial adviser to commence the process of arranging financing for the development of the Company’s 100% owned Butcherbird Project.
BurnVoir will work with E25 to secure an attractive, flexible funding package for the development of the Butcherbird Project that would maximise value for shareholders. BurnVoir has assisted in arranging development finance for a number of projects in the Pilbara region in recent years, including for Pilbara Minerals Limited (Pilgangoora Project, lithium) and Kalium Lakes Limited (Beyondie Project, potash).
Commenting on the BurnVoir appointment, E25 Executive Director Justin Brown
said, “ BurnVoir has extensive experience in arranging development funding for high quality projects such as the Butcherbird Project, and we look forward to working closely with them to identify and obtain the optimal funding mix. As the funding solution is progressively implemented, we anticipate increased recognition of the underlying value of the Butcherbird Project. Funding will proceed in parallel with the work on the Butcherbird Project. BurnVoir will initially assist in the completion of the Pre-Feasibility Study, including the financial evaluation of the Project .
About BurnVoir Corporate Finance
BurnVoir Corporate Finance is a leading independent Australian investment and advisory house with extensive experience and a strong track record in financial services across the energy, resources and infrastructure sectors. Details on BurnVoir can be found at burnvoir.com.au
Company Snapshot
ASX Code: E25 Board of Directors: Shares on Issue: 89.2M Seamus Cornelius Share Price: $0.185 Justin Brown Market Capitalisation: $16.5M John Ribbons
Chairman ED NED
Element 25 Limited is developing the world class Butcherbird manganese project in Western Australia to produce high purity manganese sulphate for lithium ion batteries and electrolytic manganese metal.
Element 25 Limited P +61 8 6315 1400 E [email protected] element25.com.au
Level 2, 45 Richardson Street, West Perth, WA, 6005 PO Box 910 West Perth WA 6872 Australia Page 1
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11 June 2019
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About the Butcherbird High Purity Manganese Project
The Butcherbird High Purity Manganese Deposit is a world class manganese resource with current JORC resources in excess of 263 Mt of manganese ore[1] . The Company has completed a positive scoping study with respect to developing the deposit to produce high purity manganese sulphate for lithium ion battery cathodes as well as Electrolytic Manganese Metal for use in certain specialty steels. A PFS is currently being completed and is expected to further confirm the commercial potential of the Project.
The Project straddles the Great Northern Highway and the Goldfields Gas Pipeline providing turnkey logistics and energy solutions. The Company is also intending to integrate renewable energy into the power solution to minimise the carbon intensity of the Project as well as further reducing energy costs.
Mineral Resources
| Category | Tonnes (Mt) | Mn (%) | Si (%) | Fe (%) | Al (%) |
|---|---|---|---|---|---|
| Measured | 16 | 11.6 | 20.6 | 11.7 | 5.7 |
| Indicated | 41 | 10.0 | 20.9 | 11.0 | 5.8 |
| Inferred | 206 | 9.8 | 20.8 | 11.4 | 5.9 |
| Total | 263 | 10.0 | 20.8 | 11.4 | 5.9 |
Notes:
• Reported at a 7% Mn cut-off for the Measured and Indicated categories and an 8% Mn cut-off for the Inferred categories.
- All figures rounded to reflect the appropriate level of confidence (apparent differences may occur due to rounding)
Justin Brown
Executive Director
Company information, ASX announcements, investor presentations, corporate videos and other investor material in the Company’s projects can be viewed at: http://www.element25.com.au.
Competent Persons Statement
The information in this report that relates to Mineral Resources is based on information announced to the ASX on 17 April 2019. Element 25 confirms that it is not aware of any new information or data that materially affects the information included in the relevant market announcements, and that all material assumptions and technical parameters underpinning the estimates in the relevant market announcements continue to apply and have not materially changed.
1 Reference: Company ASX release dated 17 April 2019.
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Element 25 Limited P +61 8 6315 1400 E [email protected] element25.com.au
Level 2, 45 Richardson Street, West Perth, WA, 6005 PO Box 910 West Perth WA 6872 Australia
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