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GREEN360 TECHNOLOGIES LIMITED — Capital/Financing Update 2022
May 15, 2022
65020_rns_2022-05-15_60e31f05-ba07-41b6-bb3d-e6a6b1dc761f.pdf
Capital/Financing Update
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ASX ANNOUNCEMENT
EXTENSION OF OPTIONS OFFERS
Suvo Strategic Minerals Limited (ASX: SUV) (“Suvo” or “the Company”) refers to its prospectus, announcement dated 2 May 2022 (“Prospectus”), indicating the closing date for participants to accept the offers for free attaching options to be issued on a 1 for 3 bases attaching to shares issued under the Share Purchase Plan (“SPP”), and Placement, would be 16 May 2022 at 5:00pm (AWST).
The Company advises that it is extending the closing date of the offers to 5pm (AWST) on Friday, 20 May 2022. The extension is to provide eligible shareholders further time to complete their applications and accept their free attaching options.
The Company wishes to remind eligible investors that in order to receive their free attaching options, applications under the Prospectus must be received on or before the closing date.
The revised timetable is as follows:
| he revised timetable is as follows: | |
|---|---|
| Options Offers Closing Date (5.00pmAWST) | 20 May 2022 |
| Issue of New Options | 23 May 2022 |
The release of this announcement has been approved by the Board of Directors of Suvo Strategic Minerals Limited.
-ENDS-
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For further information please contact
Investor enquiries Media enquiries Henk Ludik Josh Nyman Non-Executive Chairman Spoke Corporate M. +61 458 284 730 M. +61 413 243 440 E: [email protected] E: [email protected]
Company Profile
Suvo Strategic Minerals Limited is an Australian hydrous kaolin producer and exploration company listed on the Australian Securities Exchange (ASX:SUV). Suvo is focused on production at, and expansion of, their 100% owned Pittong hydrous kaolin operation located 40km west of Ballarat in Victoria. Suvo’s exploration focus is on near-term kaolin and high purity silica assets with 100% owned Gabbin (kaolin), Eneabba and Muchea1 (silica sands) projects located in Western Australia.
Pittong Operations
The 100% owned Pittong Operations, located in Victoria 40km west of Ballarat, is the sole wet kaolin mine and processing plant in Australia and has been in operation since 1972. Pittong comprises the Pittong, Trawalla and Lal Lal deposits located on approved Mining Licences MIN5408, MIN5365 and MIN5409 respectively.
At Pittong mining contractors deliver crude kaolin ore to stockpiles from the two currently operating mines, Pittong and Lal Lal. The plant takes its feedstock from the ROM and it is processed into four separate products for end users. These products are 10% moisture lump, high solids slurry, 1% moisture powder and 1% moisture pulverised powder. The solids slurry is used in paper and board manufacturing. The other products are used in paper, coatings, paint and specialist industries including rubber and pharmaceutical applications. Around 20-25kt per annum is supplied to various end users.
3.74Mt Indicated and 1.97Mt Inferred Mineral Resource of kaolinized granite.
Gabbin Kaolin Project
The 100% owned Gabbin Kaolin Project (White Cloud) is located 215km northeast of Perth, Western Australia. The project area comprises four granted exploration licences (E70/5039, E70/5332, E70/5333, E70/5517) for 413km2, centred around the town and rail siding of Gabbin.
The generally flat area is primarily cleared farming land devoid of native bushland and is currently used for broad-acre cereal cropping. A mining access agreement is in place over the current resource area with the landowner and occupier.
The main rock types at Gabbin are primarily Archaean granite, gneiss, and migmatite. These rocks are overlain and obscured by Tertiary sand and Quaternary sheetwash. The weathering profile is very deep and contains thick kaolin horizons capped by mottled clays or laterite zones. The current JORC 2012 Mineral Resources are 72.5Mt of bright white kaolinised granite with an ISO Brightness of 80.5%.
Eneabba Silica Sands Project
The 100% owned Eneabba Silica Sands Project is located 300km north of Perth, Western Australia. The project comprises four granted exploration licences (E70/5001, E70/5322, E70/5323, E70/5324) for 169km2 . The project is located on the Eneabba Plain whose sandy cover is very flat to gently undulating. Outcrop is rare due to the accumulations of windblown and alluvial sand at surface. Below this is a thin hard silcrete or lateritic claypan which overlies deep white and yellow sands. Preliminary exploration has included 54 drillholes for 1,620 metres to depths of up to 30m. This program is anticipated to deliver an initial resource for the project and a process route