JINDALEE RESOURCES LIMITED (ASX: JRL) (Jindalee, the Company) is an Australian exploration company with Tier 1 lithium deposits in its portfolio in the United States. The Company’s core goals are to discover world-class mineral deposits and generate shareholder wealth. The United States is one of the largest marketplaces for lithium demand, and Jindalee is a leading company committed to help meet future demand. The Company is focussing efforts into developing its McDermitt lithium deposit. Jindalee Resources was listed on the Australian Securities Exchange (ASX) on 11th July 2002 and raised AUD 2.70 million. Now, it is a pure-play United States lithium company. Jindalee’s Projects: In June 2018, the Company acquired McDermitt and Clayton North, two lithium sediment projects in the United States. Both projects are 100% owned by HiTech Minerals Inc., a wholly owned, US-based subsidiary of Jindalee. Several factors attracted the Company’s interest in these projects including: Potentially
Headquartered in Sydney, Australia, Aeramentum Resources Limited (ASX: AEN) was established to explore critical minerals and metals such as cobalt, nickel, copper, and gold through its ‘Treasure Project’, meeting the demands of the battery minerals market in Europe. The company primarily focuses on exploring battery metals, including copper, nickel, and cobalt. Aeramentum Resources (ASX: AEN) owns tenements in the Republic of Cyprus, EU, a past major copper producer, with a history of copper mining dating back to the 4TH MILLENNIUM BC.
The current focus of the company is to raise maximum funds of up to $6M through the ASX IPO offer to facilitate drilling and exploration projects.
Aeramentum Resources IPO
AERAMENTUM RESOURCES (ASX: AEN) proposed its Initial Public Offering (IPO) with a minimum of 22,500,000 shares and a maximum of 30,000,000 shares at a price of $0.20 per share. The company aims to raise the cap between a minimum of $4.5M and a maximum of $6M.
- Minimum Subscription- $4,500,000
- Maximum Subscription- $6,000,000
The primary intent of Aeramentum Resources IPO is to provide additional funds for exploration activities of the tenements in Cyprus and to facilitate further growth of the company’s business in exploration and mining.
The offer closes on 31 OCTOBER 2022 (subject to change in accordance with the Corporations Act and ASX Listing Rules). Following the completion of the IPO offer, AEN plans to commence drilling immediately post the IPO to prove up a resource of copper, cobalt, gold and nickel and subject to results, begin preliminary mine planning and feasibility work.
Aeramentum Resources (ASX: AEN) further has plans to enhance the diamond drilling campaign using two diamond drilling rigs at the project(s), provided that the company raises $6M, with the initial shallow holes to be completed at the rate of one every two weeks, providing plenty of newsflows this year and into 2023.
Exploration Planning and Projects Overview
AEN demonstrates comprehensive exploration planning with a team of well-established geologists and support staff with regard to historical as well as recent mining explorations.
Past explorations at the Laxia Project (Black Pine) shows historical adits up to 1.5km in strike across Laxia and Pevkos Projects. This was an attempt to explore high-grade Polymetallic Ore in the 1950S however the ore was not considered compatible with the two-stage hydrometallurgical process known as Solvent Extraction and Electro-Winning (SX/EW) process used at the time (they were chasing oxide ore).
Later in 2013–14, BGM Resources completed 13 diamond drill holes out of 20 approved. The drilling, however, was not completed back then and the potentially thicker ore zones (7–8m wide seen at Laxia West) were not drilled, creating an immediate opportunity for Aeramentum.
Copper Mining in Cyprus
In sync with copper in ancient times, the name Cyprus derives from the Latin word Cuprum (copper). In fact, the word ‘Aeramentum’, is believed to be a Latin word that refers to ‘A strip of copper/bronze or bronze/copper vessels’. The Republic of Cyprus was once a major mining centre for copper and gold. Lately, between 1940 and 1976, more than 40 deposits were mined for copper and gold and over 1.3M TONNES of copper were mined over this period.
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