Asian Battery Minerals (AZ9) | Public Offer to raise A$6m - CLOSED

Asian Battery Minerals (AZ9) | Public Offer to raise A$6m - CLOSED

We are pleased to confirm that the Asian Battery Metals (AZ9) Prospectus has been lodged and the Public Offer is now open. Inyati is Lead Manager to the offer of 120,000,000 shares at A$0.05 (5c per share) to raise A$6,000,000.

Copper has recently hit a 52-week high, trading at prices not seen in over 2-years and flirting with US$10,000/t. There are significant tailwinds for the metal with multiple bullish headlines daily – including “Copper in the foothills of what will be its Everest” by Goldman Sachs Analyst, Nick Snowden who is forecasting US$15,000/t in 2025. BHP’s $60Bn takeover bid for Anglo American (to create the world’s biggest copper miner) also gives an insight as to how the world’s largest miner views the red metal.

Lack of quality Copper plays on the ASX provides a huge opportunity for ABM who are on the cusp of a major discovery at the Oval Project, Mongolia. The company will be drilling from day 1, following up hole OVD009 (6m @ 2.00% Cu, 1.00% Ni from 127m; broader intercept 73m @ 0.59% Cu, 0.42% Ni). Importantly, this was the last hole in the program and ended in mineralisation.

Key Highlights:

-        Located next to the largest EV Battery Market

-        Multiple Projects (100%) in under-explored jurisdiction

-        Experienced team and diverse board

-        Selected in BHP’s Xplor Program (2023)

-        Base metals discovery…

  

Management:

-        High quality team with significant in country experience

-        Team listed Aspire Mining (AKM); Micro-cap IPO to peak market capitalisation of c.$800M

-        Chairman’s list has cornerstoned for ~$1.5m, including specialist resource fund Lowell Resources (ASX:LRF)

Copper Market:

-        Copper eyes US$10,000 as “super squeeze” intensifies

-        Traders ramp up bets that miners will struggle to adequately increase supply to meet booming demand

-        Evidence of improving manufacturing activity in US and China, coinciding with disruptions at major mines

-        Prices buoyed by escalation of economic sanctions

 

Newsflow/Catalysts:

·      Oval Magmatic Copper, Nickel Sulfide Project

-             Follow-up exploration drilling on newly discovered Oval Cu-Ni

-             Drill testing of other targets MS1 and SE – May 2024

-             District scale potential – ongoing regional work Q2-Q3

·      Tsagaan Ders Lithium Project

  • Phase 2 Trenching work - April 2024
  • Maiden exploration drilling – May/June 2024

·      Khukh Tag Graphite Project

  • Exploration drilling at newly discovered North Zone –

May/June 2024

  • Battery anode suitability test – Q3 2024
  • Development of mineral processing flowsheet – Q3 2024
  • Potential update to growing resource of 12.2Mt @ 12.3%

TGC (Q4 2024)

 See latest presentation attached.


NOTE: Marketech will be paid a fee on amounts raised under this offer.

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