I88 - Infini Resources

[System]

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.

Infini Resources – Value-Centric Lithium and Uranium Exploration

 

[Dona Ferentes]

Listing date	16 January 2024 ; 1:00 PM AEDT ##
Company contact	https://www.infiniresources.com.au/ Ph: (08) 9465 1051
Principal Activities	Exploration and mining
Issue Price	AUD0.20
Issue Type	Ordinary Fully Paid Shares
Security code	I88
Capital to be Raised	$5,500,000
Expected offer close date	22 December 2023
Underwriter	Not underwritten. Sixty Two Capital Pty Ltd (Lead Manager).

 

[Dona Ferentes]

lithium + uranium = ?

since listing .& ... fieldwork about to start

 

[finicky]

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.

• 1 July: Stunning High Grade Uranium Soil Results at Portland Creek
• 10 July: Soil Grades up to 74,997 ppm U3O8 (7.5%) at Portland Creek

DAILY

 

[Dona Ferentes]

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."

 

[frugal.rock]

Better late than never for this U' boat.

 

[Captain_Chaza]

I have Selected the I88 for this AUG 2025 Monthly Regatta--refer to my Thread for TA

Infini Resources I88 has identified multiple large-scale bedrock conductors from an 1,100-line-kilometre airborne electromagnetic survey at its Reynolds Lake uranium project in Canada. The presence of electrical conductors — the largest being more than 10km long — were coincident with radiometric anomalies and magnetic lows and Infini believes they are an indication of shallow unconformity-style mineralisation on the basin’s outboard edge. The mineralisation is significantly shallower than many well-known deposits within the region (including Cameco’s operations at Cigar Lake and McArthur River), which will likely result in more efficient and cost-effective exploration of prospective target areas. Reynolds Lake Location The Reynolds Lake project comprises 12 claims over 386 square kilometres near the eastern outboard edge of the Athabasca Basin, a region known for its high-grade uranium. The major Needle Falls Shear Zone structural feature transects the project area with a northeast-southwest orientation. Infini has identified graphitic schists and gneisses — considered critical host rocks for unconformity-type uranium mineralisation — at several locations across the Reynolds Lake acreage. Highly Significant Results “Reynolds Lake remains untested by modern airborne survey methods, so the identification of major conductors in a historically underexplored region is highly significant,” chief executive officer Rohan Bone said. “Importantly, the results suggest the unconformity-style uranium mineralisation is near-surface with potential for outcropping, meaning these anomalies can be explored efficiently and rapidly.” Mr Bone said the Infini team would collate and interpret all available geophysics, geochemistry and mapping data to identify prospective targets for a maiden field campaign. “We expect to conclude the desktop study in the coming weeks before commencing the evaluation and planning of an inaugural exploration program comprising lithogeochemical sampling, prospecting and mapping,” he said. Portland Creek Review Infini has fast-tracked a review of data from Phase 1 drilling at its wholly-owned Portland Creek project in Canada to refine the exploration model and inform target generation. The company has engaged Perth-based consultancy Newexco to interpret the structural, geochemical and geophysical data for a Phase 2 diamond drilling schedule it will finalise this month. Specifically, Newexco will investigate major uranium-in-soil anomalies with a peak value of 74,997 parts per million (or 7.5%) uranium oxide that remain unexplained by Phase 1 drilling. The anomalies occur over a 6km corridor where multiple other structures remain untested. Primary Uranium Orebody Mr Bone said the presence of pathfinder elements and hydrothermal alteration zones suggest the company could intersect a significant primary uranium orebody in a Phase 2 program. “Our confidence in a large-scale uranium system at Portland Creek remains high following Phase 1 drilling and our early observations have confirmed the potential for alternative-style deposits which we will consider when refining the exploration model,” Mr Bone said. “Portland Creek remains an incredibly exciting project and we eagerly look forward to the next phase of exploration in the coming quarter.”

 

[Dona Ferentes]

Better late than never for this U' boat.

raise periscope ? or just capital ?

.

 

[Dona Ferentes]

raise periscope ? or just capital ?

cloaca is on a winner

.
coming out of TH on 5th

A$3 million to be raised utilising the “Flow-Through Shares” provisions under Canadian tax law. Subject to shareholder approval, the flow-through shares will be placed at A$0.2052 per share which represents a 52.8% premium to Infini’s most recent 5 day VWAP.

Significant interest was received in the capital raising from new and existing institutional and sophisticated participants. Directors and Management of Infini have committed to an additional A$200,000 at the same price as the Block Trade, subject to shareholder approvals.

Following completion of this capital raising, the Company intends to issue eligible Infini shareholders holding shares on the record date, 1 loyalty option for every 4 Infini shares held. The loyalty options will have an exercise price of $0.27, and an expiry date of 30 September 2028. The Company will apply for quotation of the options, subject to satisfying the ASX compliance requirements.

Funds will support targeted exploration at the Portland Creek Uranium Project, with the upcoming Phase 2 drilling program in Q3 focused on unlocking a new uranium
discovery in Newfoundland, Canada. Infini has identified 12 highly prospective exploration targets at Portland Creek, with major uranium-in-soil anomalies—peaking at 74,997 ppm U₃O₈—linked to potential mineralised vein corridors associated with untested, near vertical East-West faults and supported by strong structural, geochemical, and alteration indicators.

 

[frugal.rock]

cloaca is on a winner

drilling program in Q3 focused on unlocking a new uranium
discovery in Newfoundland, Canada

Codpiece?