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GLOBE METALS & MINING LIMITED — Capital/Financing Update 2015
Dec 10, 2015
64965_rns_2015-12-10_900438de-91e4-40d5-b1cb-88fff1d56242.pdf
Capital/Financing Update
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ASX RELEASE
11 December 2015
About Globe
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Globe Metals & Mining Limited is a Perth based company listed on Australian Stock Exchange (ASX)
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The Kanyika Niobium Project is regarded as the 5[th] largest undeveloped niobium resource in the world.
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The Kanyika Niobium Project is host to a 2004 JORC compliant Mineral Resource Estimate of 68.3M tonnes of Nb2O5 using a 1,500 ppm Nb2O5 cut-off (refer ASX announcement dated 7 January 2013).
Investment Summary
- 100% interest held on projects in Malawi (Africa) including niobium and graphite
Directors and Management
Ms Alice Wong - Non-Executive Chairperson Mr Alistair Stephens - Managing Director Mr William Hayden - Non-executive Director Mr Bo Tan - Non-executive Director Mr Alex Ko - Non-executive Director
STRATEGIC REVIEW
The Board of Globe Metals & Mining Limited (“ Globe ” or “ Company ”) (ASX Code: GBE) advises that it has commenced a strategic review of the Company’s business and of global investment opportunities outside of the mining and metals industry.
With the outlook for the global mining and metals industry to remain sluggish for the foreseeable future, it is imperative that the Company clearly establish and prioritise the areas in which its resources are to be utilised so as to maximise the return for shareholders.
The Globe Board has directed that the scope of the strategic review be broadened to include an investigation of investment opportunities outside of the mining and metals industry. To this end, the Company will investigate as part of its strategic review, global business opportunities with strong cash generation capability and growth prospects.
The Board will update shareholders of any material developments as they occur.
END
Capital Structure
Shares on Issue: 469,729,062 Options on Issue: 4,000,000 (various) 52 week range: $0.02 - $0.04 Last Price (11/12/2015): $0.023 Market Capitalisation: $10.8 million
Substantial Shareholders
Apollo Metals : 52.37% Ao-Zhong International Minerals: 25.15%
Contact
Alistair Stephens Managing Director [email protected] T: +61 (0)8 9327 0700