• Metalicity to pursue listing the Admiral Bay Zinc Project on the TSX-Venture Exchange, following reverse enquiries from North American investors and endorsement from project stakeholders, Resource Capital Funds (RCF), China Minmetals (Minmetals) and China Nonferrous Metals (NFC).
  • Commencement of an RC drilling and field exploration program at the Company’s 100% owned Yerrida Cobalt Project where the company is targeting structural/stratigraphic-controlled copper-cobalt and nickel -cobalt sulphide mineralization similar to the Central African Copperbelt
  • Commencement of a field exploration program at the Company’s 100% owned Pilgangoora North Lithium Project where new high priority targets have been identified and where the company is seeking extensions to the world class Pilgangoora Lithium deposit
  • Completion of an Institutional Placement to predominantly North American Investors to raise a total of A$2.3M at a 30% premium to the closing price on 16th February 2018


During the quarter the Company resolved to pursue a strategy of listing the Admiral Bay Zinc Project (“Admiral Bay”) in Canada, on the TSX Venture Exchange (“TSX-V”), and has received endorsement from project stakeholders and some of the world’s largest mining investors including Resource Capital Funds (“RCF”), China Minmetals (“Minmetals”) and China Nonferrous Metals (NFC).

During the course of the previous 6 months the Company has received numerous reverse enquiries from Canadian investment banks and fund managers concerning Admiral Bay, with the scale and quality of Admiral Bay being of particular interest. Further, the relative value ascribed to the asset by ASX investors is very attractive to those investment banks and fund managers.

This very strong market interest will best allow the progression of Admiral Bay through a Preliminary Economic Assessment (PEA), its next round of resource and exploration drilling, followed by completion of a PreFeasibility Study (PFS), and ultimately into production.

Metalicity will form 100% owned subsidiary in Vancouver, Canada, to be named Kimberley Mining Limited (“Kimberley Mining”) and, pending shareholder approval, will effectively vend Admiral Bay into Kimberley Mining. Kimberley Mining would then undertake an initial public offering in Canada and seek a listing on the TSX-V concurrently with the completion of the offering.

The Company is now working through the pathway to the listing of Admiral Bay onto the TSX-V in conjunction with its advisors and will keep the market informed as to timing, process, capital structure, cash/share quantum to Metalicity, senior management, and a syndicate of brokers for the TSV-V listing.

Click HERE to download this announcement in full, including appendices.

If you enjoyed this post, please consider leaving a comment or subscribing to our FREE eNewsletter to have future articles delivered directly to your inbox.

There are no comments

Add yours