GREEN MAKER
8 años hace
26 October 2016
PLACEMENT
Elementos Limited is pleased to announce that it has completed a private placement to sophisticated investors raising $450,000 before costs (Placement).
Under the terms of the Placement, a total of 81,818,182 of new shares will be issued at 0.55 cents per share in the Company.
The Company plans to use the funds raised from the Private Placement as follows:
undertake line cutting, magnetic survey and drilling on the (Cleveland) Open Pit Resource Development;
undertake further metallurgical test work aimed at increasing recoveries from the proposed mining and processing operations at Cleveland;
provide working capital; and
for corporate costs and the costs of the Private Placement.
GREEN MAKER
9 años hace
7 July 2016
COMPANY UPDATE AND MANAGEMENT CHANGES
Elementos Limited (ASX: ELT) (“Elementos” or the “Company”) has been actively progressing
the Cleveland tin and tungsten project in Tasmania towards development. The Company’s
objective is to move quickly towards production and cash flow, through a low-capital,
staged development strategy, with the lowest possible dilution of shareholders.
The Cleveland environmental permitting process and Mining license application are
progressing towards completion. A number of initiatives for reducing the initial capital cost
of the tailings retreatment project are being assessed. This includes moving the Tailings
Storage Facility (TSF) to a new location. A Scoping Study on the conceptual plan is nearing
completion and has indicated a meaningful capital cost saving is achievable.
Since the completion of a positive Pre-Feasibility and two Scoping Studies on the Cleveland
assets during 2015, the resource equity and commodity markets have been depressed,
creating a difficult environment for raising new equity capital. As a consequence, the
Company believed the appropriate development strategy for Cleveland was to secure a
funding and/or off-take partner for the project, and avoid a high level of shareholder
dilution whilst the shares traded at low prices. The Company is continuing to advance its
strategic off-take and partnering process, and a number of companies are undertaking
due diligence and/or site visits.
Given the protracted negotiations of the partnering process, the Company believes it is
prudent it continues to maintain a very low-cost corporate overhead and preserve its cash
resources. As such, the Company has accepted the resignation of Chief Executive Officer,
Tim McManus. The Company thanks Mr McManus for his effort in progressing Cleveland to
an advanced stage; which has included completion of a Pre-Feasibility Study, Scoping
studies and an advanced stage of permitting. Non-Executive Director, Chris Dunks, will
continue the permitting and partnering process in an Executive Director capacity.
Despite the on-going difficult operating environment, the Company is encouraged by the
recent increase in the LME tin price from US$13,810 in January 2016 a recent high of
US$18,145 per tonne a 31% increase. The Company is also encouraged by the recent
increase in equity capital raisings in the junior resources sector. The combination of
improved prices and market sentiment will hopefully result in attracting a development
partner for the Cleveland project.
Tin is also increasingly becoming a focus in the rapidly growing speciality metals sector,
including battery technology. These new technologies are increasing the number of
demand applications for tin metal which is increasingly under supply pressure due to the
lack of new project developments. The Company has posted on its website an International
Tin Research Institute (ITRI) Tin Technology presentation presented at PDAC for your perusal.
http://elementos.com.au/wp/wp-content/uploads/2015/11/MediaJul16_PDAC_ITRI-presentation.pdf.
Penny Roger$
13 años hace
Elster Group SE is a provider of gas, electricity and water meters and related communications, networking and software solutions with operations in more than 30 countries. The Company’s portfolio of products and solutions are used to measure gas, electricity and water consumption, as well as enable energy efficiency and conservation. It sells its products and solutions to utilities, distributors and industrial customers across gas, electricity, water and multi-utility settings for use in residential and commercial and industrial (C&I) settings. The products and services are offered in more than 130 countries for both residential and commercial and industrial customers. The Company refers to the meters, communications networks and related software solutions that have been developed in response to these imperatives as Smart Grid solutions. Smart Grid solutions use these components and related applications designed to optimize functionality for utilities and their end customers.
http://www.google.com/finance?q=ELT
Regístrate gratis para obtener cotizaciones en tiempo real, gráficos interactivos, flujo de opciones en vivo y más.
Hot Features
Premium
