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ITM - iTech Minerals

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iTech Minerals Ltd is a newly incorporated company targeting the acquisition, exploration and development of all the mineral exploration assets currently owned by Archer Minerals Limited (Archer) (ASX:AXE). These assets include industrial (kaolin and halloysite) mineral and battery mineral projects. Archer is disposing of these assets due to a change of its focus from minerals exploration to advanced technology.

The Projects to be acquired by the Company consist of tenements and tenement applications which are held by subsidiaries of Archer. Upon completion of the IPO those subsidiaries will be wholly owned subsidiaries of iTech Minerals Ltd.

The Projects consist of exploration licences, a mining lease, miscellaneous purpose leases and exploration licence applications in South Australia. The Company may also acquire interests in a further 2 exploration licences in New South Wales, subject to the relevant Minister’s consent.

The Company’s Projects can be divided into the following areas:
  • The Eyre Peninsula region of the Gawler Craton in South Australia
  • The Nackara Arc in South Australia
The New South Wales Projects in which the Company may acquire an interest, subject to the relevant Minister’s consent, are the South Cobar Basin Project and the Stanthorpe Project.

If the relevant Minister’s consent is not granted, and the Company does not acquire an interest in the New South Wales Projects, expenditure allocated to those Projects will be allocated to the Company’s other Projects.

It is anticipated that ITM will list on the ASX during October 2021.

 

Dona Ferentes

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Listing date21 October 2021 11:00AM AEDT ##
Company contact detailshttps://www.itechminerals.com.au/
Ph: 02 5850 0000
Principal ActivitiesMineral exploration
GICS industry groupTBA
Issue PriceAUD 0.20
Issue TypeOrdinary Fully Paid Shares
Security codeITM
Capital to be Raised$7,000,000
Expected offer close date10 October 2021
UnderwriterNot underwritten. Novus Capital Limited (Lead Manager)

.... but could be delayed
 
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.... but could be delayed
Looks like it's sticking to your date of listing @Dona Ferentes , being today.
Buy and sells now there forming an indicative price/ market depth.

In my case, have a small holding already from AXE in specie distribution.

By my calcs, around 50 million shares have gone to AXE holders as distribution.
Quoted shares are about 88.5 million.
That's a lot of free carry going on right there...
Have to wait n see what happens today, I guess. Hope the vacuuming doesn't get in the way...😅
 

Dona Ferentes

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ITM has hit the ASX today ..... opened at 22c and now trading around the 23c level.

Also, and always hopeful, playing the Rare Earths angle at the Eyre Peninsula Kaolin project:
• Test work of historical drilling from the Ethiopia Prospect confirms the potential for thick intervals of high purity kaolin at surface
• Rare earth element indicator Cerium (Ce) is elevated in clay rich intervals, suggesting additional REE potential
• Widespread REE and kaolin enriched host rocks point to broader potential
• Resampling of 41 historical drill holes for REE and kaolin potential is underway, and results are due in late November 2021.

Characteristics of REE IACs (Ion Adsorption Clays) : REEs are found in soils deposited after weathering of granitic and/or REE enriched source rocks
• Occur primarily in China, but now being recognised globally.
• Sometimes called laterite deposits
• REE’s are adsorbed to kaolinite, halloysite and other clay minerals
• Ore is relatively low-grade, generally only 0.05% to 0.5% REO (rare earth element oxides)
• High heavy REE enriched, which are more valuable
• Easily extractable REE can be highly profitable due to low extraction costs
• REE’s leachable from clays with simple ammonium sulphate at room temperature
 
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