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CHW - Chilwa Minerals

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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.

 
Listing date26 May 2023 ; 11:00 AM AEST ##
Contact detailshttps://www.chilwaminerals.com.au/
61 8 6424 8500
Principal ActivitiesChilwa 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 (a subsidiary of Luso) whereby the Company agreed to purchase 100% of the issued share capital in 'Chilwa Minerals Africa Limited', an entity incorporated in Malawi on 31 March 2023, which will hold the tenements that comprise the Project.
Industry groupTBA
Issue PriceAUD 0.20
Issue TypeOrdinary Fully Paid Shares
Security codeCHW
Capital to be Raised$8,000,000
Expected offer close date05 May 2023
UnderwriterNot underwritten. Sequoia Corporate Finance Pty Ltd (Lead Manager
 
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