EV8 - Everlast Minerals

[System]

Everlast Minerals Limited (EM8) is a mineral exploration company whose primary focus is the exploration, discovery and delineation of economic mineral sand deposits for advancement into production.

The company, through its subsidiary in Banglasdesh, holds the portfolio of:

– three (3) mining leases located at the Brahmaputra-Jamuna River under Gaibandha Sadar Upazila and Fulchari Upazila of Gaibandha District in northern Bangladesh;

– one (1) exploration licence application located at the Brahmaputra River under Ulipur and Kurigram Sadar upazila of Kurigram District in northern Bangladesh; and

– one (1) exploration licence application located at the Padma (Ganges) River under Pabna Sadar and Sujanagar Upazila of Pabna district and Pangsa Upazila of Rajbari District of Bangladesh.

The Company, through its Subsidiary, proposes to move into the mining of mineral sands in relation to the three (3) mining leases granted at the Gaibandha Mineral Sands Project in the short to medium term once necessary preparation work is completed. The Company, through its Subsidiary, has acquired and constructed production equipment, including dry sand plant and wet sand plant, which are key to mineral sands processing, and is currently in the process of conducting trial production. The Company believes the trial production will be completed within approximately twelve (12) months of the company's listing on the ASX.

It is anticipated that EM8 will list on the ASX on 31 October 2024.

Everlast Minerals

www.everlastminerals.com

 

[Dona Ferentes]

Listing date	31 October 2024 ; 12:00 PM AEST ##
Contact details	https://www.everlastminerals.com/ Ph: 02 9938 4388
Principal Activities	Mineral sands exploration and mining in Bangladesh
Issue Price	AUD 1.00
Issue Type	Ordinary Fully Paid Shares
Security code	EM8
Capital to be Raised	$20,000,000
Expected offer close date	22 October 2024
Underwriter	Not underwritten. Byrons Corporate Finance Pty Ltd (Lead Manager)

 

[peter2]

Arrgh. This is a prime example of why there should be a second tier exchange.
A second tier will alert investors that they're investing in higher risk companies.

Constituents of the All Ords (~500) on the main exchange. Everything else on the other.

 

[Dona Ferentes]

Arrgh. This is a prime example of why there should be a second tier exchange.
A second tier will alert investors that they're investing in higher risk companies.

Constituents of the All Ords (~500) on the main exchange. Everything else on the other.

arrgghhh!

if at first, no joy, then try again...
this seems to have reinvented a year later as EV8 Everlast Minerals @Joe Blow

The start of trading on the ASX followed the completion of an IPO of 30m shares at 20c per share to raise the maximum subscription of $6m (before costs).

This IPO was oversubscribed by more than $1m, having been well supported by a range of Australian and international sophisticated and professional investors.

Everlast is focused on the rapid development of mineral sands projects to establish near-term production opportunities in Bangladesh, a region recognised for its world-class mineral sands potential and underexplored geological setting.

Its portfolio includes the flagship Gaibandha project and exploration licence applications for the Kurigram and Pabna projects.

“The successful completion of the company’s Initial Public Offering and the ASX listing marks a pivotal moment for Everlast Minerals,” executive chairman Paul Qian said on listing.

“Investor support for this initiative has been outstanding, allowing the company to comfortably raise $6m, which will underpin the exploration and development of the portfolio of mineral sands projects in Bangladesh – an underexplored and favourable operating jurisdiction.

“Everlast has made exceptional progress to date at its flagship Gaibandha Mineral Sands Project, including channel sampling and drilling.

“This has delivered a maiden indicated and inferred JORC (2012) Mineral Resource estimate of 375Mt, comprising an indicated Mineral Resource of 91Mt (at an average grade of 1.18% total valuable heavy minerals (TVHM) and an inferred Mineral Resource of 283.9Mt (at an average grade of 1.24% TVHM) and lays a strong foundation for ongoing exploration and production in the future.”

With a robust balance sheet, Everlast is well funded to progress a comprehensive work program across its mineral sands portfolio.

Immediate priorities include drilling and resource definition at Gaibandha aimed at underpinning an upgrade to the resource estimate, along with metallurgical testwork to optimise processing pathways and product quality prior to maiden production.

Subject to grant of exploration licences at Kurigram and Pabna, the company also intends to begin exploration to expand its resource base, while scoping and feasibility studies will be advanced to evaluate development scenarios and potential offtake opportunities.

.
.well, that was the blurb on Stockhead

Resources Top 5: Everlast blasts out of blocks with strong backing for mineral sands strategy - Stockhead

Bangladesh mineral sands play Everlast Minerals had a stellar start to life on the ASX, rising 135% after a $6 million oversubscribed IPO.

stockhead.com.au