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ENOVA MINING LIMITED — Capital/Financing Update 2021
Oct 24, 2021
64858_rns_2021-10-24_197e17d5-9ab5-4ceb-9a88-bf2274addbcf.pdf
Capital/Financing Update
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25[th] October 2021
ASX: ENV
Loan Facility
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Enova Mining Limited ABN: 64 087 595 980 Reg. Office: Level 26, 360 Collins Street, Melbourne VIC 3000, Australia Tel: +61398677199, Fax: +61398678587 Email: [email protected] Mail: PO Box 783, Berwick, VIC 3806 www.enovamining.com
Market Announcement Platform ASX Limited
Loan Facility (EMMCO Sdn. Bhd.)
Enova Mining Ltd. (ENV) advise that on the 22[nd] October 2021, an additional loan arrangement amounting to $50,000 was entered into with EMMCO Sdn. Bhd. (a Malaysian incorporated company). The funds will be used to support further metallurgical test work on the Cattle Creek area drill core samples and on-going company operational expenses. The loan is unsecured with interest of 15% per annum and a maturity date of 22[nd] April 2022. The loan is additional to $300,000 of loans received on the same terms, all maturing in 2022.
Enova Director, Mr Harun Halim Rasip, is a Director and Shareholder of EMMCO Sdn. Bhd.
End Announcement
Approved for release by the Board of Enova Mining Limited,
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Eric Vesel CEO / Director Enova Mining Limited
Contact details:
Eric Vesel, CEO/ Executive Director Enova Mining Limited www.enovamining.com
email: [email protected]
critical metals for a sustainable future
About the Charley Creek Project:
The Charley Creek rare earth project is located 110 km W-NW of Alice Springs in the central Northern Territory, Australia. Enova Mining Limited, with 100% project equity, is working to re-establish a resource statement and scoping study. The project is well positioned to be a low environmental impact mine with few encumbrances. The Company is currently reviewing its resource model and mineral processing flowsheet. Metallurgical laboratory test-work is in-progress to increase the rare earth and scandium mineral process recovery. The target final products are high purity rare earth oxide/hydroxide/carbonates, suitable for export to downstream high-purity product refiners, with potential industrial mineral by-products.