Sign up Australia
Proactive Investors - Run By Investors For Investors

Caeneus Minerals raises cash for lithium, nickel projects

Columbus Marsh Project in Nevada and the Pardoo Nickel Project in Western Australia.
australian dollar notes
Caeneus recently increased its stake to 80% in Pardoo

Caeneus Minerals Ltd (ASX:CAD) has raised $300,000 from sophisticated and professional investors via a placement of shares at $0.0015 each.

The company will also be issuing a 1 for 1 free attaching listed option exercisable at $0.003 expiring on or before 31 December 2020 pursuant to the placement.

Caeneus will use the funds toward exploration efforts at the Columbus Marsh Project in Nevada and the Pardoo Nickel Project in Western Australia.

The company recently discovered highly anomalous lithium brines within a shallow aquifer at the Columbus Marsh Project.

The lithium bearing brines were intersected at a depth of 79.25 meters and continued to a depth of 103.63 meters resulting in a width of the aquifer of 24.38 meters.

Importantly, the assay of the brine returned a high of 95.9 ppm lithium.

Given the significance of the discovery, an immediate application has been made for available water rights within Columbus Marsh.

Caeneus recently increased its stake to 80% in the Pardoo Nickel Project located in the Northern Pilbara region of Western Australia.

The company earned the interest from Segue Resources (ASX:SEG) under the standing joint venture agreement.

The project is highly prospective for magmatic nickel-copper sulphides with a current inferred resource of 44.7 million tonnes at 0.3% nickel and 0.13% copper.

Director appointment

Caeneus has appointed Peter Christie as non-executive director of the company.





Register here to be notified of future CAD Company articles
View full CAD profile View Profile

Caeneus Minerals Ltd Timeline

Related Articles

Danakali-Paul-Donaldson-MD-presenting-Melb-Feb-2017.jpg
February 24 2017
Paul Donaldson discussed with investors the Tier 1 Colluli Potash Project.
barseele_master.png
September 30 2017
The firm owns 45% of the property, while joint venture partner Agnico Eagle has the rest (55%).
1511183786_Lithium-drill-core---Cinovec.jpg
November 21 2017
European Metals Holdings is rapidly moving forward with Europe's largest and most significant lithium project

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2017

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use