Key Developments: Elementos Ltd (ELT.AX)
0.02AUD
17 May 2013
$-0.00 (-13.64%)
$0.02
$0.02
$0.02
$0.02
15,000
86,372
$0.12
$0.01
Latest Key Developments (Source: Significant Developments)
Elementos Ltd Announces Acquisition Of Rockwell Minerals Limited
Elementos Ltd announced an agreed merger transaction with Rockwell Minerals Limited (Rockwell), an Australian unlisted public company. The merger creates a diversified metals company, including the Cleveland advanced tin and tungsten deposits in Tasmania, and a number of prospective gold and copper assets in South America and Australia. Elementos has entered into a conditional term sheet to acquire all the issued shares of Rockwell, an unlisted public tin and tungsten exploration company, through the issue of Elementos shares. On completion, Rockwell shareholders will own 55% of the total issued share capital of the merged group, and the present Elementos shareholders 45%. The Directors of Rockwell have resolved unanimously to recommend that Rockwell shareholders accept the proposal, and intend accepting the proposal with respect to their own shares. Calvin Treacy (chairman of Rockwell) and Richard Trevillion (a non-executive director of Rockwell) will join the board of Elementos, reflecting the new strategic direction of the Company. A. Anthony McLellan will remain non-executive chairman of the combined group. Rockwell has also entered into an option agreement to acquire the remaining interest in tenement EL7/2005 for a total consideration of $700,000, payable by December 31, 2013. It is expected the transactions will close by the end of June 2013. Full Article
Elementos Ltd Commences Drilling At Tamaya Copper Project
Elementos Ltd announced that drilling has commenced at the Tamaya copper project, central Chile. The diamond drilling program has been designed to test the copper-gold potential of the Tamaya project, the first drilling program ever conducted on the property. The program will comprise up to 5,000 meters of drilling in approximately 15 holes. The mineralization styles that will be targeted by drilling within the Tamaya iron-oxide-copper-gold (IOCG) deposit include: Stockwork and breccia mineralization along the mineralized structures; Remnants of the main high-grade calcite sulphide vein and similar subsidiary veins; Pipe-like breccia bodies; Strata-bound mantos adjacent to the sub-vertical structures, targeting high volumes of lower-grade copper oxide mineralization; and Potential intrusive (porphyry) mineralization. Full Article
Elementos Ltd Announces Non-Renounceable Entitlement Offer
Elementos Ltd announced that it has completed the allotment and issue of 35,974,850 new shares at AUD 0.035 per share and 17,987,465 new options under its pro-rata, non-renounceable entitlement offer (Offer). Holding statements for these new shares and new options were dispatched on October 9, 2012. Full Article
Elementos Ltd Not To Pay FY 2012 Dividend
Elementos Ltd announced that no dividend has been proposed or paid since the start of fiscal 2012. Full Article
Elementos Ltd Announces Rights Issue
Elementos Ltd announced an underwritten, non-renounceable rights issue to raise approximately AUD 2.3 million (before costs) at AUD 0.035 per new share, plus one free option exercisable at AUD 0.06 for every two new shares acquired. The Company will issue 65,906,821 ordinary shares pursuant to the Rights Issue. The funds raised from the rights issue will be used for geophysics and drilling at the Tamaya copper project in Chile during fiscal 2012 and the meeting costs of the rights issue. Full Article
Elementos Ltd Announces Grant Of Exploration Permits
Elementos Ltd announced that two further Mineral Exploration Permits (EPMs), 19014 and 19036, have been granted at the Millenium project, within the Mt Isa minerals province. The Company intends to explore these EPMs for copper, gold, cobalt and Rare Earth Element mineralization, similar to that already discovered in the Company's five existing mining leases, as reported previously. Full Article
Elementos Ltd Announces Acquisition Of Interest In Cerrillo Tamaya Copper Project, Chile
Elementos Ltd announced that it has entered into an earn-in joint-venture with HMC Gold SCM on the Cerrillo Tamaya (Tamaya) copper project in Chile. Elementos can earn a 50% interest in the project by spending USD 7 million on exploration and development within a three year period. The agreement is subject to a 45-day legal due diligence and completion of the Shareholders and Option agreements. Tamaya comprises 5,690 and 1,200 hectares of mining concessions and exploration applications respectively. It is located in the Cerrillo Tamaya historic mining district, 55 kilometres south of the regional capital and port of Coquimbo. Full Article
Elementos Ltd Announces Appoints New Auditor
Elementos Ltd announced that in accordance with ASIC consent and shareholder approval, BDO Audit (QLD) Pty Ltd has been appointed auditors of the Company and its controlled entities. Full Article
Elementos Ltd Completes Phase II Drilling Program
Elementos Ltd announced that the Manantiales phase II drilling program has now been completed. The phase II program comprised 34 diamond holes for a total 5,592 meters, including: Manantial vein - 23 holes totaling 4,330 meters; La Puerta vein - seven holes totaling 816 meters; and Julieta Norte - four holes totaling 446 meters. The phase II drilling has tested the Manantial vein along 650 meters of strike including the depth extension of the high-grade vein identified in phase I drilling down to 270 meters. The combined phase I and II drilling totals 7,228 meters in 53 holes. Full Article
Elementos Limited Announces No Dividend For FY 2011
Elementos Limited announced that no dividend has been proposed or paid since the start of the fiscal year 2011. Full Article
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