BIM - Bindi Metals

[System]

Bindi Metals Limited is an Australian mineral exploration company with a focus on a gold-copper project in Queensland.

The Company has entered into an agreement to acquire a 100% interest in Exploration Permit 27478 located in Queensland (Biloela Project).

The Biloela Project comprises one granted Exploration Permit for Minerals (EPM) 27478, which covers a total area of 20 sub blocks for an area of approximately 62 km2.

The Biloela Project is located approximately 30 km southeast of Biloela, 90 km southwest of the Port of Gladstone and 390 km north-northwest of Brisbane.

Following the Company's IPO, the Board proposes to commence exploration activities on the Project, initially focusing on data compilation, geophysical surveys at the Flanagans and Great Blackall prospects, and a drilling program at the Flanagans and Great Blackall prospects.

It is anticipated that BIM will list on the ASX during May 2022.

Bindi Metals | Copper-Gold | Australia

Bindi Metals is targeting a >1Moz gold eq resource. Flanagans Gold project was acquired by Bindi Metals in 2021 from Zenith Minerals.

www.bindimetals.com.au

 

[Dona Ferentes]

Listing date	19 May 2022 ; 11:00 AM AEST ##
Contact details	Bindi Metals | Copper-Gold | Australia Bindi Metals is targeting a >1Moz gold eq resource. Flanagans Gold project was acquired by Bindi Metals in 2021 from Zenith Minerals. www.bindimetals.com.au Ph: +61 8 9481 0389
Principal Activities	Mining Exploration
GICS industry group	TBA
Issue Price	AUD 0.20
Issue Type	Ordinary Fully Paid Shares
Security code	BIM
Capital to be Raised	$4,800,000
Expected offer close date	29 April 2022
Underwriter	Not underwritten, Taurus Capital Group Pty Ltd (Lead Manager).

 

[Dona Ferentes]

... still going with Biloela copper search, and made move into rare earths in Canada in March Q, 23.

Schryburt Lake Rare Earth and Niobium Project
The Schryburt Lake Project is located in the highly prospective Superior Province in Ontario which hosts many world-class REE and niobium deposits and projects. The tenements are located 120km north of Pickle Lake and only 20km from Newmont’s Musslewhite gold mine. Historical exploration identified 5.7 % TREO in limited drill samples and 1.8% Nb2O5 in surface sampling. The Project has seen very limited exploration for REE and niobium to date with historical drilling solely focused on phosphate exploration with a very limited number of samples sent for REE and niobium assay. Ground magnetics has also shown that a number of prospects are associated with magnetic anomalies.

Acquisition
Bindi announced the acquisition of Schryburt Lake Project in the March quarter. The Sale and Purchase agreement includes 62 sq km of 318 mining claims located in the Thunder Bay district. In line with the Agreement, the Company paid an exclusivity fee of an aggregate of $60,000 to the beneficial owners of the Mineral Titles.

The Company announced a variation to the Agreement in May 2023 to acquire 100% ownership of the Schryburt Lake Project. The revised consideration of the Agreement included 900,000 fully paid ordinary shares and 5,200,000 performance rights. The 100% acquisition of the Schryburt Lake Project was completed subsequent to year end.
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spent 400k in June Q, with just over $2M in the kitty.
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since listing :