Arcadia Minerals Ltd (ASX:AM7) (Arcadia, AM7 or the Company) is pleased to present the Company's first quarterly activities report since listing on the ASX on the 25 June 2021.
- Arcadia minerals completed $6.4 million IPO
- Project acquisitions completed:
- Swanson Project – prospective for tantalum and lithium;
- Kum-Kum Project - prospective for nickel, copper and platinum group elements;
- Karibib Project - prospective for copper and gold; and
- Bitterwasser Project – prospective for lithium-in-brines and lithium-in-clays.
- Commenced trading on ASX on 25 June 2021
IPO AND ASX LISTING
Arcadia Minerals completed, oversubscribed a capital raising of $6,400,000 and issued 32,000,000 CDIs under the public offer. The Company commenced trading on 25 June 2021.
SUMMARY OF MINING EXPLORATION FOR THE QUARTER
There were no substantive exploration activities at the projects for the quarter. The Company completed the project acquisitions on 17 June 2021 by acquiring: • an 80% interest in Orange River Pegmatite (Proprietary) Limited (an entity incorporated in Namibia) (ORP), ORP owns the Swanson Project (prospective for tantalum and lithium and the Kum-Kum Project (prospective for nickel, copper and platinum group elements); • a 50% interest in Brines Mining Exploration Namibia (Proprietary) Limited (an entity incorporated in Namibia) (BME), BME owns the Bitterwasser Project (prospective for lithiumin-brines and lithium-in-clays); and • an 80% interest in Karibib Pegmatite Exploration (Proprietary) Limited (an entity incorporated in Namibia) (Karibib), Karibib owns the Karibib Project (prospective for copper and gold).