https://www.engineeringnews.co.za

Australian Mines raises cash for Sconi

14th April 2020

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – Junior Australian Mines will raise A$1.45-million through a share placement to a single UK-based institutional investor.

The company would place 181.25-million shares, at a price of 0.8c each, along with one free attaching unlisted option for every four shares subscribed for, at an exercise price of 1.5c each, and with an expiration date of two years from issue.

Australian Mines MD Benjamin Bell on Monday said that the investment commitment was an endorsement of the company’s potential and its Sconi project to become a globally significant producer of battery materials.

“This investment will help support our work to develop Sconi, expand the market for scandium and complete the production of samples, which are a key component in our ongoing discussions with potential offtake and financing partners.”

The bankable feasibility study has estimated a capital cost of $974-million to develop the two-million-tonne-a-year Sconi project, producing some 8 496 t/y of cobalt sulphate and 53 301 t/y of nickel sulphate over a mine life of 18 years.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Sweet-Orr
Sweet-Orr

Sweet-Orr, established in 1871, is a global leader in superior protective workwear, known for quality, innovation, and performance.

VISIT SHOWROOM 
AirNox Pty Ltd
AirNox Pty Ltd

AirNox (Pty) Ltd is a level 1 BBBEE manufacturer of complete AdBlue® solutions for operators of SCR diesel engines and AUS40 across South Africa...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.046 0.248s - 140pq - 2rq
Subscribe Now