eMetals Limited Quarterly Activities Report

eMetals Limited Quarterly Activities Report

The Directors of eMetals Limited are pleased submit the Quarterly Activities Report and Appendix 5B for the quarter ending 31 December 2019.

The Directors of eMetals Limited (ASX:EMT) (EMETALS) (Company), are pleased submit the Quarterly Activities Report and Appendix 5B for the quarter ending 31 December 2019.

Highlights:

  • Public offer (Offer) successfully closed, raising $4,354,000 (before costs), strengthens balance sheet and provides capital to be deployed across the tenements acquired as part of the RWG Minerals Pty Ltd (RWG) acquisition, and pursue commercial opportunities in and around the regions of Kelantan, northeast of Peninsular Malaysia, Perak, northwest of Peninsular Malaysia and Terengganu, Malaysia (Areas of Mutual Interest).
  • Offer strongly supported by a mix of institutional, high net-worth and retail investors with the Top Twenty shareholders holding 72.14%.
  • Exploration activities to commence on the Nardoo Well project within the current quarter.
  • Pursuant to the letter agreement (Agreement) announced to the Australian Securities Exchange (ASX) on 29 April 2019, EMT is seeking to progress development of commercial relationships to identify and evaluate mineral interests (Prospects) in the Areas of MutualInterest.

Corporate

EMT is pleased to advise that it had recommenced trading on 24 January 2020, following its re- compliance with Chapters 1 and 2 of the ASX Listing Rules. EMT acquired RWG pursuant to the quotation of its securities on the ASX effective 24 January 2020. The Company had also recently changed its name from Corizon Limited to eMetals Limited. In January 2020 the Company issued the following securities:

  • 217,700,00 Shares under the Public Offer; and
  • 10,000,000 Shares under the Vendor Offer.

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