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I88 - Infini Resources

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Infini Resources Limited (I88) is a mineral and exploration company committed to increasing shareholder wealth through the acquisition, exploration and development of lithium and uranium mineral resource projects throughout Australia and Canada.

The Company has acquired, or is in the process of acquiring, a total of eight exploration projects across well endorsed mineral districts in Canada and Australia which are considered highly prospective for lithium or uranium. These being the Pegasus Lithium Project, Parna Lithium Project and Yeelirrie Project located in Western Australia; the Des Herbiers Project and Valor Project located in Québec, Canada; the Tinco Project located in Saskatchewan, Canada; the Portland Creek Uranium Project located in Newfoundland and Labrador, Canada; and the Paterson Lake Project located in Ontario, Canada.

It is anticipated that I88 will list on the ASX during January 2024.

 
Listing date16 January 2024 ; 1:00 PM AEDT ##
Company contacthttps://www.infiniresources.com.au/
Ph: (08) 9465 1051
Principal ActivitiesExploration and mining
Issue PriceAUD0.20
Issue TypeOrdinary Fully Paid Shares
Security codeI88
Capital to be Raised$5,500,000
Expected offer close date22 December 2023
UnderwriterNot underwritten. Sixty Two Capital Pty Ltd (Lead Manager).
 
lithium + uranium = ?

since listing .& ... fieldwork about to start
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Insider buying last week.

Not Held

Infini Resources is a lithium and uranium explorer with five prospective projects located in Canada and three in Australia. The $36 million market cap company has logged two sizeable buys from Chief Executive Charles Armstrong ($53,523) and Executive Director David Pevcic ($51,025) in the past week.

Infini shares are up more than 500% in the past month after announcing two groundbreaking uranium soil grades at its Portland Creek project in Canada.


DAILY
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Infini Resources Ltd has received firm commitments to raise approximately AUD$3.39 million through the issue of 4,050,223 fully paid ordinary shares in the Company utilising the “flow-through shares” provisions under Canadian tax law at an issue price of CAD$0.741 (AUD$0.837) per share to raise CAD$3,000,000 (approximately AUD$3,389,830) .

Infini’s Managing Director, Charles Armstrong said:
“We are delighted to announce the successful completion of our capital raise, which will provide additional funding to support the continued exploration activities at our Portland Creek Uranium Project in Newfoundland, Canada. This marks an exciting milestone as we undertake our maiden drill campaign Newfoundland, a tier 1 jurisdiction. Following completion of our first soil sampling program in 1H2024, the Company has generated a number of additional drill targets at Portland Creek from the expanded soil sampling program and UAV magnetic structural analysis. Raising capital through flow-through financing at a 27.8% premium to the current share price is a great result for our shareholders, positioning us well to aggressively advance the exploration of Portland Creek as we continue to unlock its potential
."
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