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Balkan Mining and Minerals Limited is a newly incorporated mineral exploration company which is presently focused on the exploration of lithium and borates in the Balkans region of Serbia.
BMM was incorporated on 18 December 2020 as an Australian unlisted public company by its current parent company, Jadar Resources Limited (JDR).
Following a strategic review by Jadar of its assets, Jadar decided to demerge its Serbian assets to the Company. Jadar obtained shareholder approval for the Demerger at the General Meeting held on 19 April 2021.
Jadar currently holds 10,000,000 Shares in the Company, being 100% of the Company’s issued Shares. On completion of the IPO, Jadar will hold an interest of approximately 22% in the Company.
The Company holds interests in the following projects located within the Republic of Serbia:
(a) the Rekovac Project, which comprises three contiguous exploration licences (namely, the Rekovac, Ursule and Siokovac licences) covering an area of approximately 273km2 in the Pomoravlje district of Šumadija and Western Serbia;
(b) the Dobrinja Project, which comprises one exploration licence (the Dobrinja licence) covering an area of 37.58 km2 in the territory of Gornji Milanovac; and
(c) the Pranjani Project, which comprises one exploration licence (the Pranjani licence) covering an area of 25.96 km2 in the territory of Požega.
Balkan Mining and Minerals' Projects do not have defined Mineral Resources or Ore Reserves. The Projects are early stage “greenfields” exploration projects covering regions that are considered prospective for lithium and borate minerals. There has been insufficient exploration works at the Rekovac Project to define a Mineral Resource or Ore Reserve and no geological exploration works have been undertaken at the Dobrinja Project and Pranjani Projects (due to exploration licences comprising those Project areas having only recently been granted by the Serbian authorities).
It is anticipated that BMM will list on the ASX during July 2021.
balkanmin.com
BMM was incorporated on 18 December 2020 as an Australian unlisted public company by its current parent company, Jadar Resources Limited (JDR).
Following a strategic review by Jadar of its assets, Jadar decided to demerge its Serbian assets to the Company. Jadar obtained shareholder approval for the Demerger at the General Meeting held on 19 April 2021.
Jadar currently holds 10,000,000 Shares in the Company, being 100% of the Company’s issued Shares. On completion of the IPO, Jadar will hold an interest of approximately 22% in the Company.
The Company holds interests in the following projects located within the Republic of Serbia:
(a) the Rekovac Project, which comprises three contiguous exploration licences (namely, the Rekovac, Ursule and Siokovac licences) covering an area of approximately 273km2 in the Pomoravlje district of Šumadija and Western Serbia;
(b) the Dobrinja Project, which comprises one exploration licence (the Dobrinja licence) covering an area of 37.58 km2 in the territory of Gornji Milanovac; and
(c) the Pranjani Project, which comprises one exploration licence (the Pranjani licence) covering an area of 25.96 km2 in the territory of Požega.
Balkan Mining and Minerals' Projects do not have defined Mineral Resources or Ore Reserves. The Projects are early stage “greenfields” exploration projects covering regions that are considered prospective for lithium and borate minerals. There has been insufficient exploration works at the Rekovac Project to define a Mineral Resource or Ore Reserve and no geological exploration works have been undertaken at the Dobrinja Project and Pranjani Projects (due to exploration licences comprising those Project areas having only recently been granted by the Serbian authorities).
It is anticipated that BMM will list on the ASX during July 2021.
Balkan Mining and Minerals Limited • ASX:BMM
Focused on the early-stage exploration through to development of borate and associated lithium in the Balkans.
balkanmin.com
