Altech Batteries Ltd (ASX:ATC) Launch of Share Purchase Plan

April 16, 2024, 4:39 pm

≫ Next: Empire Energy Group Ltd (ASX:EEG) Completes $46.8 Million Capital Raise

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Altech Batteries Ltd (ASX:ATC) (FRA:A3Y) (OTCMKTS:ALTHF) is delighted to announce the opportunity for eligible shareholders of the Company to participate in an equity raising via a Share Purchase Plan (SPP) to raise up to $5 million.

Highlights

- Share Purchase Plan (SPP) offered to raise working capital for CERENERGY(R) battery and Silumina AnodesTM battery materials projects

- SPP at an issue price of $0.065 per share with one free attaching option for every two shares acquired

- Options will be exercisable at $0.08 per share and will expire on 30 April 2026

- Funds applied to commissioning of, and equipment for, Silumina AnodesTM pilot plant as well as to fabricate two CERENERGY(R) ABS60 60KWh battery packs

- SPP follows excellent Definitive Feasibility Study for CERENERGY(R) project finalised on 20 March 2024 that included an NPV(9) of EUR169 million and free cash flow of EUR48 million p.a.

- Altech continues to move forward with finance and offtake for CERENERGY(R) project

The SPP follows the excellent Definitive Feasibility Study (DFS) for the CERENERGY(R) project which was finalised on 20 March 2024, that included an NPV(9) of EUR169 million and free cash flow of EUR48 million p.a. Following on from the DFS, Altech continues to move forward with obtaining the finance to construct the plant for the CERENERGY(R) battery project, envisaged to be constructed on Altech's land in Germany.

CEO Iggy Tan stated "The results of the Definitive Feasibility Study reinforce the economic soundness and potential of our CERENERGY(R) project. We are excited about the positive trajectory and are fully committed to advancing to the funding phase to realise this innovative venture."

The project's economics remain compelling, with an EBITDA margin of around 47%, even at its initial production capacity. This aligns with the projected growth of the grid storage market, estimated at a remarkable 28% Compound Annual Growth Rate (CAGR). Additionally, the project offers a low lifetime levelised cost of storage at EUR0.06/kWh, compared to EUR0.149/kWh for lithium-ion batteries, further enhancing its competitive advantage."

Altech is providing all shareholders with the right to participate in a capital raising via an SPP to help fund further activities relating to the CERENERGY(R) battery project as well as the Silumina Anodes TM battery materials project. An SPP does not incur any brokerage, commission or other transaction costs for shareholders participating, and all funds received by Altech are able to be deployed directly by the Company to commercialise its technology. Altech encourages you to participate in this SPP and to continue the exciting journey that Altech is embarking on with its uniquely patented battery technology and battery materials.

Altech is targeting the grid storage market, which is an industry that is expected to have a compound annual growth rate of 28%, as the world transitions from a fossil fuel economy to a renewable energy economy.

Massive scale up and growth of both renewable energy production, combined with grid battery storage, is required to meet the green targets implemented by governments and industry around the world. Altech believes that the grid storage market is a very lucrative niche and is racing to get the CERENERGY(R) battery into production.

The shares issued pursuant to the SPP will be at an issue price of $0.065 per share with one free attaching option for every two shares acquired. The options will be exercisable at $0.08 per share and will expire on 30 April 2026.

Further details in relation to the SPP, including timing and terms and conditions, are included in the Prospectus available to all eligible shareholders.

Corporate
Iggy Tan
Managing Director
Altech Batteries Limited
Tel: +61-8-6168-1555
Email: info@altechgroup.com 

Martin Stein
Chief Financial Officer
Altech Batteries Limited
Tel: +61-8-6168-1555
Email: info@altechgroup.com

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Empire Energy Group Ltd (ASX:EEG) Completes $46.8 Million Capital Raise

April 16, 2024, 4:43 pm

≫ Next: Barton Gold Holdings Limited (ASX:BGD) Scoping Studies Begin for 1.5Moz Tunkillia Gold Project

≪ Previous: Altech Batteries Ltd (ASX:ATC) Launch of Share Purchase Plan

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Empire Energy Group Ltd (ASX:EEG) (OTCMKTS:EEGUF) is pleased to announce that it has received binding firm commitments to raise $39 million (before costs) via a strongly supported two-tranche placement of new fully paid ordinary shares ("Shares") to institutional and sophisticated investors at $0.16 per Share ("Placement").

- Commitments received from existing and new institutional and sophisticated investors for a strongly supported two-tranche placement to raise $39 million

- Bryan Sheffield and Liberty Energy Inc (NYSE:LBRT) ("Liberty Energy") have demonstrated their support for Empire with each investing US$5 million (~A$7.7 million) in the placement

- Daly Waters, a subsidiary of Formentera Partners (a US based private equity firm founded by Bryan Sheffield) and Liberty Energy have each independently acquired a 2.25% royalty interest in EP187 for US$2.5 million (~A$3.9 million) raising an additional US$5 million (~A$7.7 million).

- Empire is now funded to drill a 3km fracture stimulated horizontal pilot development well in EP187 and to further progress engineering and preparation for installation of Carpentaria Pilot Project surface facilities

- Empire anticipates commencement of commercial production and gas sales in 2025

- Empire Directors have demonstrated their continuing support for Empire by committing to invest an additional $325,000 (subject to shareholder approval)

Comments from Managing Director Alex Underwood:

"The Empire team is delighted to have received the support of key US strategic investors in the Beetaloo Basin, alongside investments from new and existing institutional and sophisticated investors under the placement.

Bryan Sheffield and his team have an outstanding track record of value creation in the US shale sector, and they have made significant investments across the Beetaloo Basin. The strategic alignment being created through Bryan's further investments announced today will be of material value to Empire's shareholders.

Liberty Energy is one of the largest providers of hydraulic fracture stimulation services in the US shale market and they will soon be sending a large frac spread to Australia to service the nascent Beetaloo Basin. Liberty also offers industry leading subsurface engineering services to help their customers 'spiral up' from data to value. Working with Liberty will facilitate improved well productivity and cost efficiency as we move from the exploration phase into the production phase.

We are grateful to Bryan and his team, the Liberty team and existing and new shareholders who have participated in this raise for their support.

The Beetaloo Basin is rapidly approaching a key inflection point which I believe will create substantial value for shareholders. We are now well funded to drill, stimulate and flow test our first pilot development well and to progress our field development plans as we aim to commence gas sales in 2025 into the undersupplied Northern Territory market."

Two-Tranche Placement

Blue Ocean Equities Pty Limited and Morgans Corporate Limited acted as the Joint Lead Managers for the Placement.

Sheffield Holdings LP and Liberty Energy have provided cornerstone support, with each investing US$5 million in the Placement.

Empire Directors have also demonstrated their continuing support for Empire by committing to invest an additional $325,000 (subject to shareholder approval).

Placement Details

Empire will issue a total of 243,750,000 Shares at an issue price of $0.16 per Share to raise $39 million (before costs) under the Placement. The issue price represents a discount of:

- 13.5% to Empire's closing share price on Friday 12 April 2024; and

- 9.3% to the 15-day VWAP prior to the trading halt.

The Shares will be issued in two tranches. The first tranche of 193,321,700 Shares will be issued under the Company's existing placement capacity under Listing Rules 7.1 and 7.1A ("Tranche 1"). It is anticipated that settlement of Tranche 1 will occur on Wednesday 24 April 2024 with the Shares being allotted on Friday 26 April 2024.

The second tranche will be subject to shareholder approval at the Company's Annual General Meeting, which is scheduled to occur on or around Tuesday 28 May 2024 and, if approved, will result in the issuance of 50,428,301 Shares ("Tranche 2"). The settlement of Tranche 2 is anticipated to occur on or around Monday 3 June 2024 and allotment is anticipated to occur on or about Wednesday 5 June 2024.

Sale of EP187 Royalty Interests to Daly Waters and Liberty

Empire has also sold 2.25% overriding royalty interests ("ORRI") over the 110,000 acre Carpentaria Project within EP187 on a net-back basis (same formula as NT Government royalty) for US$2.5 million in cash to each of Daly Waters Royalty, LP and Liberty Energy Australia Pty Limited. Funds raised under the royalty transaction will be applied to the development of the Carpentaria Pilot Project in EP187 and for working capital.

All of Empire's other Northern Territory exploration permits remain free of royalties other than to the Northern Territory Government and traditional owners.

Empire Energy Group Ltd
E: info@empiregp.net
T: +61-2-9251-1846
F: +61-2-9251-0244
WWW: www.empireenergygroup.net

Barton Gold Holdings Limited (ASX:BGD) Scoping Studies Begin for 1.5Moz Tunkillia Gold Project

April 17, 2024, 4:00 pm

≫ Next: Cobalt Blue Holdings Limited (ASX:COB) Successful A$5m Placement

≪ Previous: Empire Energy Group Ltd (ASX:EEG) Completes $46.8 Million Capital Raise

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Barton Gold Holdings Limited (ASX:BGD) (FRA:BGD3) (OTCMKTS:BGDFF) is pleased to advise that scoping studies have commenced for the Tunkillia Gold Project (Tunkillia). During March Tunkillia's JORC (2012) Mineral Resource Estimate (MRE) grew to 1.5Moz Au (51.3Mt @ 0.91 g/t Au)).

Barton has appointed GR Engineering Services Limited (GRES) and Mining Associates Pty Ltd (Mining Associates) to lead a detailed scoping study for Tunkillia including mine design, production scheduling, process plant, tailings storage, equipment, personnel and supporting infrastructure (Scoping Study).

Following completion of the Scoping Study, Barton will also complete a review of all technical data to determine the forward work program necessary to complete a pre-feasibility study (PFS Gap Analysis).

The launch of Tunkillia Scoping Studies follows the completion of Barton's recent share placement to institutional investors (Placement) and Share Purchase Plan (SPP).2 The Placement and SPP were both strong supported by the Company's institutional, sophisticated and retail shareholders, with applications significantly exceeding the targeted raise amounts and final SPP allocations yet to be determined.

Commenting on the start of Tunkillia Scoping Studies, Barton Managing Director Alex Scanlon said:

"We have rapidly advanced Tunkillia since its acquisition in early 2020, leading to multiple expansions of its mineralised footprint and four cost-efficient JORC Resource upgrades. It is very exciting to now step forward into early development studies as we continue building the district scale potential for our South Australian assets."

Alexander Scanlon
Managing Director
E: a.scanlon@bartongold.com.au
T: +61 425 226 649

Shannon Coates
Company Secretary
E: cosec@bartongold.com.au
T: +61 8 9322 1587

Cobalt Blue Holdings Limited (ASX:COB) Successful A$5m Placement

April 17, 2024, 4:47 pm

≫ Next: Barton Gold Holdings Limited (ASX:BGD) Results of Share Purchase Plan

≪ Previous: Barton Gold Holdings Limited (ASX:BGD) Scoping Studies Begin for 1.5Moz Tunkillia Gold Project

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Cobalt Blue Holdings Limited (ASX:COB) (FRA:COH) (OTCMKTS:CBBHF) is pleased to announce that it has received firm commitments to raise A$5.0 million (before costs) via a share placement to experienced, sophisticated and professional investors through the issue of 43,478,261 new fully-paid ordinary shares at A$0.115 per share (New Shares) and 43,478,261 free-attaching unlisted options exercisable at $0.20, with an expiry date three (3) years from issue date (Options) (the Placement).

The Placement was well supported by several domestic and offshore institutional investors.

In commenting on the Placement, Chief Executive Officer Joe Kaderavek said:

"We welcome several highly regarded domestic and international institutional investors onto the Cobalt Blue register in what was a strongly supported capital raising."

Blue Ocean Equities Pty Ltd and Canaccord Genuity acted as Joint Lead Managers and Bookrunners to the Placement.

The Placement funds will be used to fund:

- Refinery development program (completion of pre-construction activities)

o Technical studies
o Approvals & permits
o Feedstock agreements
o Marketing & offtake agreements

- Re-Mining

o Progress Hudbay relationship via advancing studies
o Assess other re-mining opportunities in Australia, North America and Europe

- Broken Hill Cobalt Project review

- Corporate costs and general working capital

- Placement costs.

Further details of the Placement

Under the Placement, the Company will issue up to 43,478,261 New Shares at $0.115 per share (a discount of 23.2% to the 15-day VWAP) and 43,478,261 attaching unquoted options(Exercise Price: $0.20 per option, Expiry date: 3 years from issue), under the Company's current placement capacity under ASX Listing Rule 7.1 (5,708,815 New Shares and 43,478,261 Options) and 7.1A (37,769,446 New Shares), to raise A$5.0 million before costs.

Settlement is expected to occur on or about 23 April 2024.

The New Shares issued under the Placement will be fully paid ordinary shares in the Company and will rank equally with shares currently on issue.

If all of the Options are ultimately exercised, the Company will raise a further A$8.7 million, which will be directed towards project development and general working capital purposes.

Joe Kaderavek
Chief Executive Officer
info@cobaltblueholdings.com
P: (02) 8287 0660

Barton Gold Holdings Limited (ASX:BGD) Results of Share Purchase Plan

April 18, 2024, 4:03 pm

≫ Next: Sayona Mining Limited (ASX:SYA) Sale of Troilus Gold Corp Shares

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Barton Gold Holdings Limited (ASX:BGD) (FRA:BGD3) (OTCMKTS:BGDFF) is pleased to confirm the final results of the Share Purchase Plan (SPP) that opened on 9 April 2024.

The SPP was strongly supported, and closed with significant overapplications in only 1 week.

Eligible applications received totalled $3.15 million (following final reconciliation and analysis).

The SPP offered all eligible shareholders the opportunity to acquire new Barton shares at the same price as the Company's recent institutional placement (Placement). Further to the Placement, Collins Street Asset Management became a ~6.9% substantial shareholder of Barton.

To recognise and reward the significant interest shown by existing shareholders, the Directors have resolved to accept a total of $2.25 million in SPP applications, equivalent to ~71.5% of eligible applications received prior to the early closing of the SPP Offer. Accordingly, a total of 9,375,023 new SPP shares will be issued pursuant to the SPP, for a total proceeds of $2,250,005.52 (before costs).

8,408,198 of the new SPP shares will be issued pursuant to the Company's available Listing Rule 7.1A capacity, with the 966,825 balance issued pursuant to the Company's available Listing Rule 7.1 capacity.

Scale back has been applied proportionally for each applicant, where each eligible applicant will receive ~71.5% of the amount of shares they validly applied for. The difference between the application monies received, and the value of SPP Shares allocated (number x Issue Price), will be refunded without interest.

Barton expects to issue the SPP shares Tuesday, 23 April 2024, with the shares to start trading on 24 April 2024, in accordance with the revised timetable set out in Barton's announcement of 16 April 2024.

Following the issuance of new SPP shares, there will be 218,456,999 fully paid ordinary shares on issue. Commenting on the final SPP results, Barton Managing Director Alex Scanlon said:

"The SPP outcome reflects an extraordinary vote of shareholder confidence in Barton's platform and strategy as we pursue the development of large scale gold production in South Australia. With Tunkillia commencing Scoping Studies and Tarcoola starting high-grade target drilling, the balance of 2024 should be quite interesting.

"Together with the ongoing sales tender for more than $4 million contained gold-in-concentrates, Barton is very well capitalised to pursue its target of continued regional growth and potential 'Stage 1' development pathways."

Alexander Scanlon
Managing Director
E: a.scanlon@bartongold.com.au
T: +61 425 226 649

Shannon Coates
Company Secretary
E: cosec@bartongold.com.au
T: +61 8 9322 1587

Sayona Mining Limited (ASX:SYA) Sale of Troilus Gold Corp Shares

April 18, 2024, 6:33 pm

≫ Next: NSX Limited (ASX:NSX) Quarterly Activities Report

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North American lithium producer Sayona Mining Limited (ASX:SYA) (FRA:DML) (OTCMKTS:SYAXF) announced the sale of its shareholding in Troilus Gold Corp (Troilus) (TSE:TLG) which has further strengthened Sayona's balance sheet.

The Company has agreed to sell 19.2 million shares of Troilus for C$0.63 Canadian Dollars ("C$") per share through a block trade via Desjardins Capital Markets. The sale will result in gross proceeds of approximately A$13.7 million for Sayona. Following the block trade and some smaller recent public market share sales, Sayona will no longer hold any shares of Troilus.

Sayona first acquired shares in Troilus at the end of 2022, in relation to the purchase of a material tenement position near the Moblan Lithium Project which added nearly 1,000km2 of prospective land holdings. The shares were acquired on a non-brokered private placement basis at an average price of C$0.49 per share and as such Sayona will recognise a modest capital gain on this transaction.

The decision to sell the Troilus shareholding underscores the Company's commitment to focus on development of the emerging Tier 1 lithium project at Moblan and the continuing ramp up of production at North American Lithium.

Sayona's Interim CEO, James Brown, said: "The sale of the Troilus shares is totally aligned with our commitment to maximise value for shareholders through the development and production of our Quebec lithium assets at Moblan and NAL. The original investment in Troilus helped facilitate the acquisition of a significant exploration package adjacent to Moblan in the Eeyou Istchee James Bay Hub and having served that purpose it is prudent to recycle the capital for other uses."

James Brown
Executive Director/Interim CEO
Email: info@sayonamining.com.au

Anthony Fensom
Republic PR
Ph: +61 (0)407 112 623
Email: anthony@republicpr.com.au

NSX Limited (ASX:NSX) Quarterly Activities Report

April 18, 2024, 6:59 pm

≫ Next: Vintage Energy Ltd (ASX:VEN) Retail Entitlement Offer Information

≪ Previous: Sayona Mining Limited (ASX:SYA) Sale of Troilus Gold Corp Shares

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NSX Limited (ASX:NSX) is pleased to provide its Activities Report and ASX Appendix 4C Cashflow Statement for the period ended 31 March 2024 (3Q24).

Group Cash Flow Activities Report

- Cash at the end of the quarter was $2.034 million (with $0.212 million restricted).

- During the quarter $77k in cash receipts were received from customers with the majority of year-to-date operating cash inflows received in the September quarter.

- The capital raise during the period resulted in a total of $1.776 million in cash receipts, before costs of capital raise of $71k. This amount includes the funds raised direct from the rights issue and the conversion into NSX shares of a convertible loan for cash received during the period of $500k from ISX Financial EU PLC. In addition, another convertible loan was issued for the amount of: $500k from ClearPay JV.

- Cash payments for administration costs for the quarter were $750k, which is an increase of $294k when compared with the December quarter ($456k). Administration expenses in the March quarter include payments made for:

o Payment to ASIC - $353k for ASIC Levy Fees for FY 2023;

o Payment to Dexus Property Group - $70k for Sydney office rent; and

o Payment to Iress Limited - $62k for Iress Order System+ (NSX Market Connectivity).

- Cash payments to staff and the Board (staff costs) for the period were $402k, which is an increase of $36k when compared with the December quarter ($366k). This is primarily due to a termination payment during the month of March.

- A year-to-date reclassification of $195k from administration and corporate costs to leased assets has been processed in sections 1.2(d) and 1.2(f) of the Appendix 4C to more closely align to the nature of payments made.

NSX Limited Corporate Activities

- After the recent capital raise, the Company has a shortfall of 129,559,416 shares or $3.2 million which can be placed to the market by 1 June 2024.

- Related party payments totaled $100k, which includes Directors' fees paid in the quarter of $67k and a payment to Authenticate Pty Ltd of $33k for IT Enterprise Support Services.

National Stock Exchange Activities

- The activities of the Company's wholly owned subsidiary, National Stock Exchange of Australia ("NSXA"), involved business as usual processing of new admission suitability for listing applications and market operations.

- NSXA are working through the listing process for two applications and engaging with additional prospects to reach listing application stage.

- NSXA continues to engage with ASIC concerning the changes to the rules for Market Integrity rules requirements.

KSA Mining and Minerals Exchange Activities

- Due to ongoing conditions in the Middle East and regulatory priorities this project persist. The Company has been advised that the Saudi Government is continuing its review of regulations and commercial terms for a new exchange, and we expect that this will be completed in the second half of 2024

ClearPay Joint Venture Activities

- The Company continues to review licensing options for the Joint Venture.

*To view the Cashflow Report, please visit:
https://abnnewswire.net/lnk/85ZGU825

NSX Limited
T: +61-2-9233-0100
WWW: www.nsx.com.au

Vintage Energy Ltd (ASX:VEN) Retail Entitlement Offer Information

April 18, 2024, 8:37 pm

≫ Next: Delta Lithium Limited (ASX:DLI) Quarterly Activities Report

≪ Previous: NSX Limited (ASX:NSX) Quarterly Activities Report

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Vintage Energy Ltd (ASX:VEN) notes the Retail Entitlement Offer announced 25 March 2024 will close on Friday, 26 April 2024.

Under the offer, eligible shareholders are being offered the opportunity to subscribe for 1 New Share for every 1.3 Existing Shares held at 7.00pm (AEDT) on 27 March 2024 at the Issue Price of $0.01 per share.

Eligible shareholders who apply for their entitlement are also able to apply for additional shares available under a top-up facility.

Full details on the offer, eligibility and how to participate are contained in the Retail Entitlement Booklet ("Offer Booklet") and personalised entitlement and acceptance form which was made available to eligible shareholders on 3 April 2024. Copies of the booklet and the entitlement and acceptance form can also be accessed via the share registry at:
https://investor.automic.com.au/#/home

Shareholders with any questions concerning the offer are encouraged to contact the Automic Corporate Actions General Enquiry Line on 1300 288 664 (within Australia) or +61 2 9698 5414 (outside Australia) from 8.30am to 7.00pm (AEST) Monday to Friday during the offer period, excluding public holidays.

Neil Gibbins
Managing Director
+61 8 7477 7680
info@vintageenergy.com.au

Don Murchland
Investor relations
+61 439 300 932
don.murchland@vintageenergy.com.au

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Delta Lithium Limited (ASX:DLI) Quarterly Activities Report

April 21, 2024, 3:34 pm

≫ Next: Barton Gold Holdings Limited (ASX:BGD) Completion of Tarcoola Open Pit Drilling

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Delta Lithium Limited (ASX:DLI) is pleased to provide the following report on activities undertaken during the March Quarter, 2024.

March Quarter Highlights

- Binding Farm-In Joint Venture Agreements executed with Voltaic Strategic Resources (ASX:VSR) and Reach Resources Limited (ASX:RR1) to Earn-In ownership of tenement packages across the Yinnetharra region.

o As a result of the transactions Delta's footprint in the emerging Gascoyne lithium province has increased by more than 30% to 1,769km2

- Continued exploration success at Yinnetharra and Mt Ida with high-grade intercepts further building Delta's confidence in the Company's geological models.

- Drilling results from the Yinnetharra Project demonstrated quality lithium intercepts from surface including:

o 30m @ 1.9% Li2O from 199m in YRRD0362 at M36
o 30m @ 1.43% Li2O from 183m in YRRD0361 at M36
o 24.2m @ 1.4% Li2O from 177m in YDRD038 at M1

- Infill gold drilling results from the Mt Ida Lithium Project delivered excellent high-grade near surface results including:

o 3m @ 41g/t Au from 87m in MNGC087 at Meteor North
o 2.4m @ 51.6g/t Au from 55.6m in AURD026 at Meteor North
o 15m @ 6.17g/t Au from 42m in MNGC154 at Meteor North

- Heritage Survey Completed at the Jameson Prospect with drilling underway.

Commenting on the quarter, Managing Director of Delta Lithium, Mr James Croser said:

"The first quarter of 2024 has delivered ongoing solid results across our main project streams. Our confidence in the orebodies at Yinnetharra and Mt Ida continue to grow with each round of drilling results we receive. Delta's presence in the Gascoyne region is rapidly growing and our recently established joint ventures with Voltaic Strategic Resources and Reach Resources supports our vision of systematically expanding our existing project tenure along and adjacent to our 40kms+ of target strike.

"The newly acquired land package increases the likelihood of a regional scale project which all shareholders can benefit from and builds upon the significant potential for a long-life lithium operation. Delta's experienced team and expertise, working closely with our new partners, will support the realisation of our strategy."

*To view the full Quarterly Report, please visit:
https://abnnewswire.net/lnk/986I622F

Delta Lithium 
James Croser, Managing Director
+61-8-6109-0104
info@deltalithium.com.au

Investor/Media Enquiries
Citadel-MAGNUS
Michael Weir +61-402-347-032
Jono van Hazel +61-411-564-969

Barton Gold Holdings Limited (ASX:BGD) Completion of Tarcoola Open Pit Drilling

April 21, 2024, 3:54 pm

≫ Next: Delta Lithium Limited (ASX:DLI) Company Update and First Jameson Result

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Barton Gold Holdings Limited (ASX:BGD) (FRA:BGD3) (OTCMKTS:BGDFF) is pleased to advise that the balance of planned reverse circulation (RC) drilling in the Tarcoola Gold Project's (Tarcoola) open pit Perseverance mine has concluded, with a total of 1,350m drilled across 19 drill holes.

This is in addition to 338m (in 7 completed holes) drilled during December 2023, before early conclusion of drilling for severe weather. The aggregate program was therefore 1,688m across 26 completed holes.

Barton will now process assays for current and December 2023 RC drilling, and ~600m of diamond drilling (DD) completed during September 2023.

In parallel, drill planning on priority targets predicted by the Company's recently published regional structural model for the Tarcoola Goldfield is underway.

Barton expects to commence that program during May 2024, and to include drill targets on Mining Lease 6455 and Exploration License 6210.

Commenting on Tarcoola open pit drilling, Barton Managing Director Alex Scanlon said:

"We are excited to kick off regional target drilling in the historical high-grade producing Tarcoola Goldfield. Shallow, easily accessible mineralisation could materially enhance the combined development economics of the neighbouring 1.5 Million ounce Tunkillia Project, and the existing open pit is a natural place to start.

"The existing open pit also has the natural advantages of being located on a fully permitted Mining Lease, with its mineralisation previously processed through our fully licensed Central Gawler Mill during 2017 and 2018.

"Even modest extensions of open pit mineralisation can therefore offer a low-cost and high-value head start when mapping out our pathway to potential 'Stage 1' operations leveraging our existing Central Gawler Mill."

*To view figures, please visit:
https://abnnewswire.net/lnk/JYJNZ0XT

Alexander Scanlon
Managing Director
E: a.scanlon@bartongold.com.au
T: +61 425 226 649

Shannon Coates
Company Secretary
E: cosec@bartongold.com.au
T: +61 8 9322 1587

Delta Lithium Limited (ASX:DLI) Company Update and First Jameson Result

April 21, 2024, 4:03 pm

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Delta Lithium Limited (ASX:DLI) is pleased to announce an update for the ongoing exploration activities at its Lithium Project at Yinnetharra in the Gascoyne region of Western Australia and the Mt Ida Project in the Goldfields Region of Western Australia.

The maiden drilling program at Jameson kicked off in late March 2024 utilising an RC rig. Initial drilling results are very positive with coarse, clean spodumene within pegmatite visible in RC chips. The assay results from the initial hole support the identification of the spodumene.

Infill drilling at the Malinda Prospect continues to demonstrate quality lithium intercepts from surface with the dominant lithium bearing mineral being spodumene. The two holes highlighted above YRRD471 and JREX002 represent the two best intercepts to date at Yinnetharra.

Commenting on the results Managing Director, James Croser said;

"Malinda continues to provide us with excellent lithium results that confirm our existing resource and build our confidence in the geology. Particularly a very wide intercept in YRRD471 which will add significant lithium metal to an important part of the M1 resource.

The first hole assay results from the Jameson Prospect JREX002 has delivered fair reward for the Team's effort, with some of the coarsest visual spodumene seen to date at Yinnetharra over a very wide downhole interval, and individual assays in excess of 4% Li2O."

Yinnetharra Exploration

The Yinnetharra project is an early-stage exploration project in the Gascoyne region of Western Australia targeting Lithium mineralisation. Delta Lithium has 1,769km2 of tenure owned outright and as Farm-in Joint Ventures. A maiden MRE was released in December 2023 of 25.7Mt @ 1% Li2O . The recently executed Farm-In Joint Venture Agreements have expanded the prospective stratigraphy to over 80km in length.

The Company is actively exploring at the Yinnetharra Project with four drill rigs currently operating at Malinda, 1 rig operating at Jameson and multiple field teams undertaking geological mapping and surface sampling in order to further define target prospects.

The maiden drill result from the Jameson prospect is very encouraging. Lithium anomalism at Jameson is present as a coherent soil geochemistry anomaly >150ppm Li2O approximately 600m long. Drilling orientations at Jameson were chosen to intercept the regional trend of stratigraphy in a perpendicular manner.

Visual logging of the RC chips indicates spodumene is the only Li bearing mineral phase observed to date (Figures 3 & 4*), with the remainder of the pegmatite composed of quartz, feldspar, and minor apatite and beryl. Assay results support this observation.

Geological interpretation of the area is ongoing with more information becoming available through drilling and mapping. Orientations of mineralised pegmatite are not known at this stage, this drilling intercept reported may be oblique to the dip and dip direction of the mineralised pegmatite and not indicative of the true width of mineralisation.

Drilling is ongoing at Jameson, further results will be released in due course.

Drilling completed to date at Malinda has demonstrated quality lithium intercepts from surface with the dominant lithium bearing mineral being spodumene. Recent highlights can be seen below in Table 1* and Figure 5*, with a full list of recent results in Appendix 3*. Along strike extensions to M36 have been found as well as up dip extensions of M47 as indicated in Figure 5*.

Lithium resources are largely present in 3 main pegmatites at Malinda from surface to a depth of >300m.

Metallurgical test work is ongoing with initial results demonstrating the potential for high recovery of spodumene to high grade low impurity concentrates.

Mt Ida Update

The Mt Ida project is a "shovel ready" permitted lithium and gold project in the Goldfields region of Western Australia with lithium and gold JORC resources defined (Figure 6* below). A Lithium MRE was released in September 2023 of 14.6Mt @ 1.2% Li2O (refer to Appendix 1*). A Maiden gold resource of 3.1Mt @ 4.1 g/t Au for 412koz Au was released in October 2023 (Appendix 2*).

Delta is progressing multiple options to monetise the gold assets at Mt Ida in conjunction with remodelling and optimising the resources, and advancing open pit and underground mining studies.

A significant amount of near surface high grade gold was discovered and defined by Delta in 2023 (Figure 7*). The Baldock 086 lode (Sister Sam Open Pit) has a current resource of 0.24Mt @ 9 g/t Au for 70koz Au, whilst the Meteor North lode has a current resource of 0.6 Mt @ 4.7 g/t Au for 91koz Au.

The Baldock 086 Lode has been grade control drilled to a nominal 10m x 10m spacing. As part of this preparatory work a comprehensive metallurgical test work program has been undertaken and results received covering the Baldock 086 Lode, which is contained within the volume of the fully permitted Sister Sam Open Pit, as yet unmined. A total of 74 spatial variability samples were selected throughout the Baldock 086 lode and tested to understand gold recovery and reagent consumption using Mt Ida site water. From these samples 3 master composites based on ore types were created; an oxide master comp IM2078, a transitional master comp, IM2079 and a fresh master comp IM2080.

Gold extraction rates for each composite ore type are tabulated below in Table 2. A range of 91.4-99.7% recovery was achieved in an 8hr residence time, with 44-63% of the gold able to be recovered with a gravity circuit. Cyanide consumption was very low for the master composites ranging from 0.5-1.25 kg/t. Copper grades ranged from 502-1,110ppm and returned expected low cyanide solubilities.

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/M0R6DH66

Delta Lithium 
James Croser, Managing Director
+61-8-6109-0104
info@deltalithium.com.au

Investor/Media Enquiries
Citadel-MAGNUS
Michael Weir +61-402-347-032
Jono van Hazel +61-411-564-969

Vintage Energy Ltd (ASX:VEN) Farmout Agreement Signed for PELA 679

April 21, 2024, 4:24 pm

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≪ Previous: Delta Lithium Limited (ASX:DLI) Company Update and First Jameson Result

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Vintage Energy Ltd (ASX:VEN) announces the signing of a farmout agreement under which Sabre Energy Pty Ltd ("Sabre") will acquire a 50% interest in the South Australian Cooper Basin exploration licence PEL 679, once granted. Vintage will retain a 50% interest in the licence following completion of the farmout.

Sabre will fund 100% of a 150 km2 3D seismic survey and pay Vintage $200,000 as reimbursement of its share of costs incurred to the time the permit is granted.

PELA 679 is located on the western flank of the Cooper Basin, south-west of the Worrior oil field which has produced in excess of 4.5 million barrels of oil. Comprising a total area of 393 km2 the permit is considered to hold Permian and Jurassic oil potential. Vintage has identified three Jurassic four-way closures and one Permian Patchawarra Formation stratigraphic play from the sparse 2D seismic it has mapped to date. The morphology of basement-influenced Jurassic structures located up-dip and along trend of Permian sourced hydrocarbons, is considered analogous to Beach Energy Ltd.'s prolific Western Flank oil fields.

Sabre Energy is a private company, looking to expand their investment portfolio into the Cooper/Eromanga Basin. They have a board and senior management with extensive oil & gas experience, chaired by Mr. Allan Bougoure, a very experienced veteran of the oil and gas business, and Managing Director, Mr. Regie Estabillo, an experienced petroleum engineer and former Chief Operating Officer, Omega Oil and Gas.

"We are very pleased to have Sabre Energy as a future joint venture partner in this permit, said Vintage Managing Director, Mr. Neil Gibbins.

"Sabre has an experienced and proven team; we look forward to working with them. PELA 679 is highly prospective for oil in particular and we anticipate their contribution in addressing the potential of PEL 679 will be both collaborative and valuable" he said.

Sabre Energy Chairman, Allan Bougoure said "Sabre Energy is excited to be working with an experienced group of people such as Vintage Energy. The opportunity in PELA 679 acreage provides an exciting entry into oil exploration for Sabre to build our portfolio. I look forward to maturing our working relationship into the future."

Regie Estabillo, Managing Director, Sabre Energy noted the attractions of PELA 679. "This opportunity represents near field oil exploration allowing for short turnaround times to commercialisation. PELA 679 lies within the Proven Oil Fairway of the Cooper/Eromanga Basin as defined by DEM and is analogous to the prolific Western Flank oil fields. This is an exciting addition to Sabre's portfolio."

Vintage bid successfully for the licence in the 2019 SA Gazettal Round, with the award of the permit to the company to follow completion of an appropriate land access agreement. Vintage is currently in negotiations with the native title holders, the Dieri Aboriginal Corporation RNTBC.

Completion of the farmout work will satisfy the Year 1 work program for the permit and is expected to provide the data for more accurate mapping of potential drilling candidates.

The farmout agreement is subject to a number of conditions precedent including, but not limited to, regulatory approval, receipt of necessary consents and authorisations.

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/D65ZIX92

Neil Gibbins
Managing Director
+61 8 7477 7680
info@vintageenergy.com.au

Don Murchland
Investor relations
+61 439 300 932
don.murchland@vintageenergy.com.au

Money Talk Radio with Ellis Martin: XORTX Therapeutics Inc. (NASDAQ:XRTX) (CVE:XRTX) Dr. Allen Davidoff-Look for More M&As in the Kidney Disease Remediation Space in the Future

April 21, 2024, 4:30 pm

≫ Next: Great Western Exploration Limited (ASX:GTE) March 2024 Quarterly Activities Report

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In this segment of Money Talk Radio with Ellis Martin, we speak with Dr. Allen Davidoff, CEO of XORTX Therapeutics (NASDAQ:XRTX) (CVE:XRTX), a pioneer in developing new therapies for progressive kidney disease and diabetes.

Recently Vertex Pharmaceuticals (NASDAQ:VRTX) announced it is paying $4.9 billion to acquire Alpine Immune Sciences (NASDAQ:ALPN). Alpine has developed an experimental drug povetacicept to treat IgA nephropathy, a kidney disease that's attracted increasing interest ranging from big drugmakers to VCs. This development bodes well for companies in the space such as XORTX as a future potential acquisition target. We also discuss the long term effects of covid-19 and exacerbating both diabetes and kidney disease.

To Listen to the Interview, please visit:
https://www.abnnewswire.net/lnk/ACSYMN3P

Tel: +1-403-455-7727
Email: info@xortx.com

Great Western Exploration Limited (ASX:GTE) March 2024 Quarterly Activities Report

April 22, 2024, 3:20 pm

≫ Next: Lake Resources NL (ASX:LKE) Results of Share Purchase Plan

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Great Western Exploration Limited (ASX:GTE) is pleased to provide its Quarterly Activities Report for the Quarter ended 31 March 2024 (March 2024 Quarter).

Key Points:

Fairbairn Project

- Great Western is set to drill three highly prospective targets defined at the Fairbairn Copper Project in WA; Drilling is expected to start in late April - early May

- Geological modelling suggests these compelling electromagnetic conductors represent potential DeGrussa-style copper-gold volcanic hosted massive sulphide deposits, with this style of mineralisation often occurring in clusters of deposits

- Phase one of the drill programme at Fairbairn will comprise diamond holes drilled to depths ranging from 250 to 350m. Follow up drill-holes have also now been designed and will be drilled based on success from the first phase of the programme

Oval and Oval South

- Further refinement of the geological model of the two potentially transformational Winu-style intrusive related copper-gold targets was completed

- Great Western interprets that Oval and Oval South's coincident geophysics anomalism, location on a major crustal mantle tapping fault intersected by a basin defining growth fault (that focuses mineralised fluids) and hosted by favourable stratigraphy, has significant potential for a major discovery to be made

- Oval and Oval South were originally defined by Rio Tinto in the late-1990s and further defined by Sandfire Resources

Firebird Gold Project

- Results from the phase 2 air core drilling programme were received; The results confirm a mineralised gold system at Firebird but were lower grade and deeper than anticipated

*To view the full Quarterly Report, please visit:
https://abnnewswire.net/lnk/RG648940

Shane Pike
Managing Director
Great Western Exploration Limited
Tel: 08 6311 2852
Email: enquiries@greatwestex.com.au

Lake Resources NL (ASX:LKE) Results of Share Purchase Plan

April 22, 2024, 3:53 pm

≫ Next: Tamboran Resources Corporation (ASX:TBN) Signs Binding GSA with Northern Territory Government

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Lake Resources N.L. (ASX:LKE) (FRA:LK1) (OTCMKTS:LLKKF) is pleased to announce the results of its Lake Share Purchase Plan ("SPP"), which was announced to the ASX on 12 March 2024. The SPP was open to eligible existing Lake shareholders with a registered address in Australia and New Zealand ("Eligible Shareholders") who were holders of Lake shares as at 7.00pm (AEDT) on 11 March 2024 ("Record Date") to apply for up to A$30,000 of new fully paid ordinary shares in Lake ("SPP Shares") without incurring brokerage or other transaction costs. Terms and conditions of the SPP were set out in the SPP offer booklet made available on 18 March 2024 to Eligible Shareholders in relation to the SPP ("Offer Booklet").

The SPP was undertaken on the same terms as Lake's successful completion of a A$15 million placement ("Placement") of approximately 213.6 million new fully paid ordinary shares in Lake ("Placement Shares") to sophisticated institutional and professional investors, showing strong support for Lake's strategic partnership plans for its flagship Kachi project. Both the Placement and the SPP are being issued at a price of A$0.07 per new fully paid ordinary share ("Offer Price").

The SPP closed on 18 April 2024, with the Company receiving valid applications for 21,549,799 SPP Shares, raising a total of A$1,508,500.00 (before costs).

A total of 269 Shareholders participated in the SPP. Lake confirms that all valid applications received from Eligible Shareholders under the SPP were accepted in full and that no scale back was undertaken.

Funds raised from the Placement and SPP, totalling approximately A$16.5 million, extend Lake's financial runway as it pursues a robust strategic partner process for its flagship Kachi project.

Nigel Kassulke at Teneo
M: +61-407-904-874
E: Nigel.Kassulke@teneo.com

Global: 
Karen Greene
SVP, Investor Relations
karen.greene@lakeresources.com.au

---

Tamboran Resources Corporation (ASX:TBN) Signs Binding GSA with Northern Territory Government

April 22, 2024, 4:20 pm

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Tamboran Resources Corporation (ASX:TBN) (OTCMKTS:TBNNY) signs binding GSA with the Northern Territory Government to supply 40 TJ per day for ~15 years from the proposed Shenandoah South Pilot Project.

Tamboran and the Beetaloo Joint Venture (BJV) have signed a binding long-term Gas Sales Agreement (GSA) to supply the Northern Territory Government (the Buyer) with 40 TJ per day (~19 TJ per day net to Tamboran) from the proposed Shenandoah South Pilot Project for an initial term of nine years (131.4 PJ Total, ~62.4 PJ net to Tamboran), starting in H1 2026. The Buyer has an option to extend the GSA for a further six-and-a-half years through to 2042.

The daily volume under the GSA represents approximately two-thirds of the Northern Territory's current gas requirements.

Gas will be delivered to the APA-owned Amadeus Gas Pipeline (AGP) on a take-or-pay basis at a market-competitive gas price, escalating at 100% of the Consumer Price Index (CPI). The Buyer's extension option is at a slightly discounted price.

The binding supply commitment is conditional on the BJV entering into a binding Gas Transportation Agreement with APA on the proposed Sturt Plateau Pipeline, a binding Gas Processing Agreement for the proposed Sturt Plateau Compression Facility, reaching a Final Investment Decision (FID), and receiving key regulatory and stakeholder approvals.

Tamboran will be targeting FID on the proposed Shenandoah South Pilot Project in mid-2024, with first production planned by H1 2026.

Tamboran holds a 47.5% working intertest in the 51,200-acre area that will include the wells required to deliver the proposed Pilot Project volumes.

Tamboran Resources Corporation Managing Director and CEO, Joel Riddle, said:

"We are proud to deliver on our commitment to provide the Northern Territory Government with long-term supply of gas from the Beetaloo Basin. Tamboran has always promised that our first gas production from the Basin would be to the benefit of Territorians and we are excited to play our part in boosting energy security in the Northern Territory.

"This is a transformational development for Tamboran and our partners, after ten years of hard work and more than A$500 million invested in Beetaloo exploration and appraisal activities. This represents a major milestone and puts Tamboran on a path where revenue from gas sales will support funding our future development phases, including supply to the East Coast gas market. In addition, the proposed Pilot Project is expected to provide initial royalties to both the Northern Territory Government and Traditional Owners within the region.

"With electricity in the Northern Territory predominantly sourced from gas-fired power, it is key that the Northern Territory has a readily available gas supply to keep the lights on. Due to the use of natural gas in the electricity supply, the Northern Territory is well below the national average for emissions intensity across Australia's electricity network, especially NSW, Victoria and Queensland who rely heavily on coal."

Investor enquiries:
Chris Morbey
Vice President - Investor Relations
+61-2-8330-6626
Investors@tamboran.com

Media enquiries:
+61 2 8330 6626
Media@tamboran.com

NEW IRM WEBSITE NOW LIVE FOR 2024 AUSTRALIAN GOLD CONFERENCE

April 22, 2024, 4:38 pm

≫ Next: Vintage Energy Ltd (ASX:VEN) Odin-2 Update

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IRM, the online investor engagement specialists, have switched on the new website for the 2024 Australian Gold Conference at www.goldevents.com.au

"IRM is thrilled to be working once again with Gold Events and the 2024 Australian Gold Conference, providing essential online tools to update delegates, sponsors and exhibitors", said Ruchelle Erratt, Client Success Manager, IRM. "Gold Events is a valued partner, the conference allows IRM to amplify the message of ASX-listed companies, cut through noise and grab investor attention."

The 2024 Australian Gold Conference returns to Crown Towers, Sydney August 26-28, Australia's leading gathering for investors, bullion dealers, refiners, suppliers, marketers, gold explorers and producers.

"IRM has actually created three websites reflecting our three specific events," said Kerry Stevenson, Founder and CEO of the Australian Gold Conference. "Eureka 2024, our free education evening and social event, the two-day Australian Gold Conference and the Gold Industry Awards dinner with our fabulous host Vince Sorrenti."

"Online communication has become an essential part of our lives, transforming how we connect, share information, and conduct business," added Erratt. "Gathering face to face and engaging with participants at the Australian Gold Conference is a must do on our marketing calendar."

Visit the website now and register as a delegate.
https://www.goldevents.com.au

ABOUT IRM

IRM is a leading provider of investor communication tools, dedicated to empowering companies to shine in the competitive landscape of investor engagement. With over 20 years of experience primarily serving ASX-listed companies, our expertise in effective investor communication makes us the perfect partner for both established and upcoming listings on any major exchange.

Kerry Stevenson
Founder & CEO
GOLD EVENTS
kerry@goldevents.com.au
+61 407 202 758
www.goldevents.com.au

IRM
Ruchelle Erratt
Client Success Manager
0467 000 571
Ruchelle.erratt@irmau.com

Vintage Energy Ltd (ASX:VEN) Odin-2 Update

April 22, 2024, 4:43 pm

≫ Next: Lithium Universe Ltd (ASX:LU7) Application for Green Power at Becancour Lithium Refinery

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Vintage Energy Ltd (ASX:VEN), 50% interest-holder and Operator of the ATP 2021 Joint Venture (other interest-holders: Metgasco Ltd, 25%; and Bridgeport (Cooper Basin) Pty Ltd, 25%) provides an update to the announcement of 10 April 2024 concerning the timing of Odin-2 following rainfall in the Cooper Basin.

Site operations have commenced following the restoration of ground access with civil works on the road and lease builds underway. Following completion of civil work, a 3-day rig mobilisation will commence, to be followed by pre-spud maintenance and check.

Current schedules have well spud to occur by late in the week commencing 6 May 2024. As advised in the investor presentation lodged 27 March 2024, well duration is anticipated to be 3 to 4 weeks, based on midrange expectations.

Vintage will provide further updates on timing of the Odin appraisal drilling as clarity and certainty permit.

Neil Gibbins
Managing Director
+61 8 7477 7680
info@vintageenergy.com.au

Don Murchland
Investor relations
+61 439 300 932
don.murchland@vintageenergy.com.au

Lithium Universe Ltd (ASX:LU7) Application for Green Power at Becancour Lithium Refinery

April 23, 2024, 5:02 pm

≫ Next: Ionic Rare Earths Limited (ASX:IXR) Raises $5.5 Million in a Placement

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Lithium Universe Limited (ASX:LU7) (OTCMKTS:ESMAF) is pleased to announce that the Company is taking a significant step towards the production of greener battery-grade lithium carbonate at the proposed Becancour Lithium Refinery.

Highlights

- Application for 18 MW of green power for Becancour Lithium Refinery

- Hydro-Quebec is a leading supplier of hydropower

- Strategy to produce greener battery-grade lithium carbonate

- Engineering study finalises power requirement

- Application only for train 1 of 16,000 tpa battery grade lithium carbonate

- Closing the North American lithium conversion processing gap

The Company has officially submitted an application for up to 18 MW of green electricity (Train 1) to Hydro-Quebec, a renowned leader in renewable energy generation in North America. This milestone follows a comprehensive engineering study conducted by Hatch Engineering, which has finalized the power requirements for train 1 of the proposed lithium refinery.

Hydro-Quebec is a prominent player in renewable energy, generating just over 99% of its power from water sources. The proposed lithium refinery is located within the Becancour Waterfront Industrial Park (BWIP), specifically on Lot 22 of the Parc industriel et portuaire de Becancour in Becancour, Quebec, Canada.

Situated at the crossroads of hydro-electrical distribution networks, the industrial park offers a stable and cost-effective source of hydroelectric power in Quebec. The application process with Hydro-Quebec, outlines the power needs for construction, commissioning, start-up, and the gradual ramp-up to full production of the first 16,000 tpa battery-grade lithium carbonate train.

Last month, the Company completed a port study and selected the Becancour Port as the most efficient to import lithium-rich spodumene to supply the Becancour Lithium Refinery. The proposed refinery, which will rely on spodumene feed, may source this material from within Canada or external locations proximal to the Atlantic Ocean such as Brazil, Africa, or even further abroad to Australia.

Lithium Universe Chairman, Iggy Tan said "The strategic move to secure green electricity from Hydro-Quebec marks a significant step in our lithium refinery project. Our emphasis on early work streams underscores our determination to accelerate the development process. We are committed to fast-tracking the development, ensuring the refinery becomes a reality in record time."

Alex Hanly
Chief Executive Officer
Lithium Universe Limited
Tel: +61 448 418 725
Email: info@lithiumuniverse.com

Iggy Tan
Chairman
Lithium Universe Limited
Email: info@lithiumuniverse.com

Ionic Rare Earths Limited (ASX:IXR) Raises $5.5 Million in a Placement

April 23, 2024, 6:51 pm

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The Board of Ionic Rare Earths Limited (ASX:IXR) (OTCMKTS:IXRRF) announces it has received firm commitments to raise $5.5 million (before costs) by way of a share placement of approximately 423 million shares at $0.013 per share ("Placement"). The Placement was strongly supported by both key existing shareholders.

- IonicRE has received firm commitments to raise $5.5 million (before costs) in a Placement;

- Placement includes participation of $0.5 million from IonicRE Executive Chairman Mr Brett Lynch, further to his recent $1.5 million investment on joining the Company in January 2024;

- Funds raised will support:

o Advancing Ionic Technologies' magnet recycling technology and enhancements to its Magnet Recycling Demonstration Plant, currently producing separated magnet rare earth oxides (REOs) in Belfast, UK, along with the completion of a Feasibility Study for a full-scale plant, expected mid 2024; and

o Advancing offtake and financing discussions presently underway at the Makuutu Ionic Adsorption Rare Earths Project, where the demonstration plant at site is producing mixed rare earth carbonate (MREC) which will be evaluated by several parties to advance offtake negotiations.

Managing Director Tim Harrison commented, "We have received such a significant amount of interest from various magnet manufacturers, alloy makers and OEM's who are interested in utilising our world-class magnet rare-earth recycling technology for access to secure, sustainable, and traceable rare earth supply. Demand at our operational demonstration plant in Belfast is now full for the next 18 months with potential partner trials advancing to plan."

"Further, our upstream project, the Makuutu Rare Earth Project, is also advancing well with several offtake negotiations with partners who will be evaluating our MREC being produced at the Makuutu demonstration plant. We are on the verge of a tangible increase in shareholder value. We greatly appreciate the support of existing shareholders with funding this placement."

Placement Details

The Company has received binding commitments from existing sophisticated investors to raise $5.5 million (before costs) through the issue of 423,076,923 fully paid ordinary shares ("Shares") at an issue price of $0.013 per Share ("Placement"). Participants will receive 3 free attaching unlisted options for every 4 shares issued with an exercise price of $0.02 (being a 54% premium to the issue price of Shares under the Placement) and a 4-year term which will see 317,307,690 unlisted options ("Options"). 216,967,454 free attaching unlisted Options will be issued utilising the Company's existing placement capacity pursuant to Listing Rule 7.1, with the balance to be issued subject to shareholder approval.

The issue price under the Placement represents a 25.3% discount to the volume weighted average price ("VWAP") of IonicRE shares over the past 10 trading days. Shares issued under the Placement will be issued utilising the Company's existing placement capacity pursuant to Listing Rule 7.1 and are expected to be issued on or about Wednesday, 1 May 2024. The Shares issued under the Placement will rank equally with IonicRE's existing Shares quoted on the ASX.

Mr. Brett Lynch, IonicRE's Executive Chairman, will subscribe for 38,461,539 Shares ($500,000) under the Placement plus 28,846,154 free attaching Options with an exercise price of $0.02 and a 4-year term, subject to receiving approval at a general meeting of shareholders to be held this quarter. This is in addition to Mr Lynch's $1.5 million equity investment in January 2024 when he joined the Board of the Company.

Canaccord Genuity (Australia) Limited and MST Financial Services Pty Limited acted as Joint Lead Managers to the Placement, with Canaccord acting exclusively as Global Coordinator and Sole Bookrunner (Global Coordinator) to the offer.

Use of Funds

It is the intention of the Company to use the funds raised under the Placement to advance the commercial partnership negotiations, magnet recycling demonstration plant enhancements and the completion of the feasibility study at Ionic Technologies, plus activity at the Makuutu demonstration plant tied to offtake negotiations and working capital.

The Joint Lead Managers will be entitled to receive a fee equal to 6% of the Placement proceeds, excluding the amount subscribed by Mr. Brett Lynch. Subject to shareholder approval, the Company proposes to issue 20 million unlisted options to the Joint Lead Managers with an exercise price of $0.02 and expiring 4 years after the date the options are issued.

Tim Harrison
Ionic Rare Earths Limited
E: investors@ionicre.com
T: +61 (3) 9776 3434

For Investor Relations
Peter Taylor
NWR Communications
E: peter@nwrcommunications.com.au
T: +61 (0) 412 036 231