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Element 25 does deal to sell non-core royalty streams

Element 25 is progressing a pre-feasibility study (PFS) for Butcherbird High Purity Manganese Project in Western Australia.

Element 25 Ltd - Element 25 does deal to sell non-core royalty streams
The PFS is aimed at assessing the possible production of high purity manganese products

Element 25 Ltd (ASX:E25) has entered into a binding sale and purchase agreement with to dispose of a portfolio of royalties relating to several project areas.

The consideration for the deal, which is subject to conditions, is $500,000 worth of shares in SilverStream SEZC dba Vox Royalty.

One condition is the successful listing of SilverStream on the TSX by no later than 15 May 2020.

Proceeds from the eventual sale of the Silverstream shares will be used to continue the development of E25’s flagship Butcherbird Project in Western Australia.

Non-dilutive funding opportunity

E25 Managing Director Mr Justin Brown commented, “E25 is very pleased with this transaction which will add important additional capital to the company’s balance sheet.

“The sale is in line with the company’s strategy of identifying funding opportunities for the Butcherbird Project which minimise dilution and maximise shareholder returns.”

Proceeds to fund Butcherbird progress

Proceeds from the eventual sale of the Silverstream shares will be used to continue the development of E25’s flagship Butcherbird Project in Western Australia.

The company intends to produce high purity manganese products including manganese sulphate for lithium-ion batteries and electrolytic manganese metal (EMM).

Quick facts: Element 25 Ltd

Price: 0.11 AUD

ASX:E25
Market: ASX
Market Cap: $10.12 m
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Element 25 'well funded' as it progresses PFS on Butcherbird manganese project

Element 25 Ltd's (ASX:E25) Justin Brown sits down with Proactive's Andrew Scott while at Mines and Money in London 2019. The company's flagship asset is the Butcherbird manganese deposit, which has been described as Australia’s largest onshore manganese resource. ''The PFS is around 90%...

on 27/11/19

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