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ChemX Materials (ASX:CMX) (ChemX or the Company), a materials technology company focused on providing critical materials required for electrification and decarbonisation, is pleased to advise that its pro rata non-renounceable entitlement issue of one (1) option (New Option) for every four (4) shares held by those shareholders on the record date of Friday 3 June 2022 at a nominal issue price of $0.005 per New Option (Loyalty Options Offer) and secondary offer of 1,500,000 options (Advisor Options) to Amvest Capital Principal Strategies, LLC (as nominee of Amvest Capital Inc.) (Advisor Offer), closed at 5.00pm (WST) on Monday 4 July 2022.
- Loyalty Options Offer closes well oversubscribed
- New Options to be issued with an exercise price of $0.30 and a 3-year expiry date
- Advisor Options to be issued with an exercise price of $0.40 and a 3-year expiry date
ChemX Managing Director, David Leavy said “The Company is pleased with the support from shareholders for the Loyalty Options issue. The Options enable shareholders to further support ChemX by providing the Company with a potential source of future capital for the development of our HiPurATM HPA, Jamieson Tank Battery Manganese and Kimba Kaolin/REE projects”.
The Company received applications to subscribe for 26,582,274 New Options from eligible shareholders under the Loyalty Options Offer (including oversubscriptions). This represents approximately 117% of all New Options offered under the Loyalty Options Offer.
The Company advises that the results of the offers are as follows:
The Company will proceed to scale back shortfall applications in accordance with its allocation policy set out in section 2.7 of the Prospectus issued in relation to the Loyalty Options Offer.
This Announcement has been authorised for release by the Board.
For enquiries:
David Leavy
Managing Director
ChemX Materials Ltd
david@chemxmaterials.com.au
+61 424 153 957
Peter Kermode
Associate Director
Cannings Purple
pkermode@canningspurple.com.au
+61 411 209 459
About ChemX Materials (ASX: CMX)
ChemX is a materials technology company focused on providing critical materials required for electrification and decarbonisation. The Company’s vision is to support the energy transition with materials and technology that provide real solutions to lowering carbon emissions.
Developed in-house, ChemX's HiPurA™ Process is a unique technology that is capable of producing high purity alumina (HPA) and high purity aluminium cathode precursor salts for lithium-ion batteries. Initial testwork has indicated that the process is low cost and low in energy consumption, compared to alternative technologies. A key competitive advantage is that the HiPurA™ process is not tied to mine production, with the feedstock being a widely available chemical.
The Company has projects in South Australia and Western Australia. The South Australian Eyre Peninsula projects include the Kimba Kaolin-Halloysite Project and the Jamieson Tank Manganese Project. The ChemX HiPurA™ Project is located in Western Australia.
Click here for the full ASX Release
This article includes content from ChemX Materials, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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ChemX Materials
Overview
ChemX Materials (ASX:CMX) is a critical materials company developing innovative processing technology to produce high purity alumina for advanced technology and clean energy applications.
ChemX Materials’ 100 percent owned, Australian patented HiPurA® process technology offers a low cost and energy intensity production method to produce high purity alumina (HPA).
HPA is used in advanced technology and clean energy applications including lithium-ion batteries, LEDs, semiconductors and synthetic sapphires. Synthetic sapphires are critical in the production of applications such as smart watches, iPhones and laptop screens.
Company Highlights
- ChemX Materials Limited (ChemX Materials) is an Australian company developing an innovative, processing technology to produce high-purity alumina (HPA), this process is called HiPurA®.
- ChemX Materials owns 100 percent of HiPurA® and was granted an Australian patent for this technology in January 2024.
- High purity alumina is used in advanced technology and clean energy applications including lithium-ion batteries, LEDs, semiconductors, smart watches and iPhones.
- The HiPurA® process is modular, scalable and uses a readily available aluminous chemical as its feedstock, therefore is not reliant on mine production offtake, all of which enable the technology to be deployed close to end users' manufacturing operations.
- ChemX Materials has proven HiPurA® can produce above 4N (99.99 percent) high purity alumina at micro plant scale. This testwork indicates HiPurA® is low in cost and energy intensity.
- ChemX Materials is constructing a pilot plant to demonstrate HiPurA® can work at scale, which is the next step towards commercialisation. The pilot plant construction is underway and on track for commissioning in June 2024.
Key Business Segments
High Purity Alumina Processing Technology - HiPurA®
ChemX Materials is developing an innovative processing technology to produce high-purity alumina (HPA). This process is called HiPurA®. ChemX Materials owns 100 percent and holds an Australian patent for HiPurA®. ChemX Materials has proven HiPurA® can produce above 4N (99.99 percent) pure HPA at micro plant scale. This test work has also demonstrated that HiPurA® is superior compared to alternative technologies, offering several advantages, including:
- Lower costs – both capital and operating.
- Independent feedstock - – process is not tied to mine production and uses a readily available aluminous industrial chemical.
- Easily scalable – production output can increase based on demand.
- Modular – can be built near end users’ manufacturing operations.
- Optionality – patented technology can be licenced to end users.
- Lower carbon footprint – technology is not energy intensive.
HPA has several applications, the most important being lithium-ion batteries used in electric vehicles (EVs) and energy storage applications. HPA is used in the coating of the battery separator to enhance safety and performance. The outlook for EVs is very promising. With the adoption of EVs growing rapidly year on year as governments across the globe deploy domestic incentives and regulations to reduce the use of internal combustion engines to meet net zero targets.
HPA is also a key in the production of synthetic sapphire, which is used in LEDs, semiconductors, lasers, optical lenses and medical devices.
ChemX Materials has proven its HiPurA® technology can achieve above 99.99 percent (4N) HPA purity at micro plant scale. Following the technical success of the micro plant, ChemX Materials is constructing a 24 tpa pilot plant in Western Australia. The pilot plant is expected to be operational in June 2024.
In January 2024, ChemX Materials was granted an Australian Patent for its innovative HiPurA® technology. Based on the success of the Australian patent, it is anticipated that ChemX Materials will be afforded similar protections in other international jurisdictions. The patent is important as it provides intellectual property protection as ChemX Materials seeks to commercialise the technology globally.
HPA production from the pilot plant will be used for customer qualification and marketing purposes. ChemX Materials is actively pursuing commercial opportunities globally. Commercialisation options include:
- Build, own, operate a commercial scale plant to sell high purity alumina to end users.
- Licence the HiPurA® technology for deployment at end users’ manufacturing locations.
High Purity Manganese Project
ChemX Materials is developing a high purity manganese project. The Jamieson Tank project is located on two exploration tenements, EL 5920 and EL 6634 in the Eyre Peninsula in South Australia. These tenements collectively cover an area of 718 km2.
ChemX Materials completed a 94-hole drill program at the Jamieson Tank project, totaling 6,164 metres and released its maiden Mineral Resource Estimate in September 2023. The Mineral Resource Estimate reported 13.1 Mt at 5.7 percent manganese, with 21 percent classified as Indicated and 79 percent classified as Inferred.
High purity manganese has essential applications in lithium-ion batteries as a cathode material. Manganese provides energy density, stability and lower costs and is a critical material for modern battery chemistries. As the world pursues decarbonisation it is forecasted that the demand for manganese will grow.
With the objective of the United States Inflation Reduction Act (IRA) to reduce its reliance on Chinese sources of critical minerals, by 2025, the Jamieson Tank project is an important prospect. China currently supplies around 95 percent of the global manganese sulphate.
The South Australian jurisdiction offers excellent infrastructure. The Jamieson Tank project is in a province that is characterised by rapidly growing renewable energy infrastructure (wind, solar and hydrogen) and access to a local skilled workforce. The Jamieson Tank project is accessible by road, approximately 160 kms from the port of Whyalla and near a major regional airport.
The tenements in which the Jamieson Tank project is located also host kaolin and rare earth elements (REE) deposits. The area has historically been well known and explored for its potential for kaolin. The Kelly Tank exploration target is estimated to be 55 - 130 Mt of extractable kaolin.
In 2022, ChemX Materials undertook a drilling program and identified REE hosted within the kaolin throughout the tenements. The drilling program intersected high-grade REE mineralisation with intervals of up to 5 metres @2,468 parts per million total rare earth oxides from 7 metres. Importantly, it remains open in various directions, providing potential exploration upside for future drill programs.
Management Team
Peter Lee – Chief Executive Officer
20+ years’ experience across mining, metals processing and chemical industries within Canada and Australia. Lee has held technical leadership roles with companies including Rio Tinto, BHP, Roy Hill and WSPGolder. He is an expert in refining and electrochemical processes and a registered P. Eng Engineers and Geoscientists of British Columbia, Canada, and a member of AusIMM and AICD.
Warrick Hazeldine – Non-executive Chair
Warrick Haseldine has more than 20 years of experience across capital markets and strategic communications with a focus on battery materials. He is the co-founder of advisory firm Cannings Purple, and former chair and non-executive director of Global Lithium Resources Ltd (ASX:GL1). Hazeldine is currently a director of Surfing WA, advisory board member of Curtin University, and a non-executive director of Purple.
Stephen Strubel – Executive Director and Company Secretary
Stephen Strubel is the company founder with 20 years’ experience in finance and corporate governance. Struber held a senior leadership role with Patersons Securities and has been a director and company secretary for ASX-listed companies. He holds a bachelor’s degree in banking and international trade from Victoria University and an MBA from the Australian Institute of Business.
Alwyn Vorster – Non-executive Director
Alwyn Vorster has 30+ years’ experience in the resources industry, spanning several commodities including rare earths, iron ore, bauxite, potash and salt. Vorster has several senior leadership positions including chief executive officer of Hastings (ASX:HAS) and managing director of BCI Minerals (ASX:BCI) and Iron Ore Holdings (ASX:IOH). Vorster is currently non-executive director of Lindian Resources (ASX:LIN) and Arrow Minerals (ASX:AMD).
Heritage Clearances Received for Priority Drill Targets at Abbotts North
HIGHLIGHTS
- Heritage clearances have been received for areas covering priority lithium pegmatite targets at the Abbotts North Project.
- Main Buttamiah Prospect now accessible for the February RC program
- Track and drill pad establishment has commenced and RC drilling rig is mobilising to site.
Richard Taylor, CEO of Premier1, said:
“With the receipt of the heritage survey report and the recent approval of the Programme of Work applications by the Department of Mines, Industry Regulation and Safety, we now have in place all the environmental and heritage approvals required for the first drilling program at Abbotts North. I thank the traditional owners of Abbotts North, the Ngoonooru Wajarri, for their advice and involvement in the process.
With site mobilisation having commenced and the RC rig already on its way, this is an important and exciting phase for Premier1.”
Priority Targets
The survey area covers the main Buttamiah Prospect where several parallel lithium bearing pegmatites have been mapped and sampled. The pegmatites strike approximately east west and single pegmatites can be traced in strike over an extended area. The RC program has been designed to test the depth and extent of the mineralised pegmatite field.
There remain further priority targets at the Abbotts North Project based on the latest completion of the first phase of field mapping, rock chip sampling and soil geochemistry in December 2023. The results from the soil survey highlighted areas of interest with anomalous responses comparable to the geochemical signature over the main Buttamiah Prospect (ASX 22 January 2024). Further follow up fieldwork will be conducted to assess these new priority targets and plan for further heritage clearance surveys.
Heritage Survey
The first heritage clearance survey at Abbotts North was completed by Archaeological Excavations Pty Ltd in conjunction with the Ngoonooru Wajarri people, who are the traditional owners of the lands and waters. The survey was conducted over several days, with participants from Archaelogical Excavations, the traditional owners and Premier1.
Figure 1: Abbotts North Survey Area.
Programme of Work (“PoW”) approvals have been received from the Department of Mines, Industry Regulations and Safety (“DMIRS”) for 4.92ha of land within Exploration Licence E51/2126 (Table 1).
Premier1 Lithium now has in place sufficient PoW and heritage clearances to conduct RC drilling over the main target areas at the Abbotts North Project. The first drilling program is planned for approximately 2,000m. The focus is to define the continuity and extent of lithium mineralisation evident in rock chip samples taken from surface within the main Buttamiah Prospect.
Click here for the full ASX Release
This article includes content from SensOre, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
ChemX Materials Investor Kit
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- Insights
- Growth strategies
- Upcoming projects