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Chilwa Minerals Limited was formed for the purpose of acquiring the Lake Chilwa Heavy Mineral Sands Project in Malawi, Africa (Project) from Luso Global Mining BV (Luso). The acquisition of the Project will be made pursuant to a share sale agreement with Luso and Mota-Engil Investments (Malawi) Limited (MEIML) (a subsidiary of Luso) whereby the Company agreed to purchase 100% of the issued share capital in Chilwa Minerals Africa Limited (CMA), an entity incorporated in Malawi, which will hold the Tenements that comprise the Project.
The Project comprises 2 licences with a total land area of 878.7km2 and includes a JORC 2012 compliant Mineral Resource Estimate (MRE), classified at the Inferred level of confidence of 2.4 MT Total Heavy Minerals (THM) and is prospective for further mineralisation in both the existing as well as previously unexplored areas of the licences.
Funds raised via the IPO will be directed towards physical on ground exploration coupled with the evaluation of technical opportunities in order to fast track Project development.
It is anticipated that CHW will list on the ASX during May 2023.
www.chilwaminerals.com.au
The Project comprises 2 licences with a total land area of 878.7km2 and includes a JORC 2012 compliant Mineral Resource Estimate (MRE), classified at the Inferred level of confidence of 2.4 MT Total Heavy Minerals (THM) and is prospective for further mineralisation in both the existing as well as previously unexplored areas of the licences.
Funds raised via the IPO will be directed towards physical on ground exploration coupled with the evaluation of technical opportunities in order to fast track Project development.
It is anticipated that CHW will list on the ASX during May 2023.
Chilwa Minerals | critical minerals
Chilwa Minerals is an Australian based exploration mining company with a critical minerals project in Malawi, Africa.
www.chilwaminerals.com.au
