Outcome of Share Purchase Plan
Released
Released
Announcement PDF
ASX Announcement
26 April 2024
ASX: OD6
Outcome of Share Purchase Plan
OD6 Metals Limited (the Company) is pleased to announce the results of its Share Purchase Plan (“SPP”),
following closure of the SPP at 5:00pm (AWST) on Tuesday, 23 April 2024.
A total of $292,000 was raised under the SPP, with 4,112,667 new OD6 Ordinary Shares (“New Shares”) to be
issued to eligible applicants at an issue price of $0.071 per New Share.
The New Shares are expected to be issued on Tuesday, 30 April 2024 and to commence trading on Thursday, 2
May 2024. The New Shares will rank equally with existing OD6 Shares.
Holding statements will be issued to eligible applicants on 30 April 2024.
This announcement has been approved by the Board of OD6 Metals Limited.
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About OD6 Metals
OD6 Metals is an Australian public company pursuing exploration
and development opportunities within the critical mineral
sector. The Company has successfully identified clay hosted rare
earths at its 100% owned Splinter Rock and Grass Patch Projects,
which are located in the Esperance-Goldfields region of Western
Australia - about 30 to 150km northeast of the major port and
town of Esperance.
Drilling and geological analysis at its flagship Splinter Rock has
shown widespread, thick, high-grade clay hosted REE deposits that
extend over hundreds of square kilometres. Metallurgical testing
using hydrochloric acid to leach the rare earths have resulted in
positive REE recoveries with optimisation ongoing.
The Company aims to delineate and define economic resources
and reserves of Rare Earth Elements (REE), in particular Neodymium (Nd), Praseodymium (Pr), Dysprosium (Dy) and Terbium
(Tb), which can be developed into a future revenue generating mine. Clay REE deposits are currently economically extracted
in China, which is the dominant world producer of REEs.
REE are becoming increasingly important in the global economy, with uses including advanced electronics and permanent
magnets in electric motors. As an example, a neodymium magnet used in a wind turbine or electric vehicle motor is 18
times stronger than a standard ferrite magnet significantly increasing energy use efficiency.
As part of the exploration process the Company has entered into heritage agreements with Esperance Tjaltrjraak Native Title
Aboriginal Corporation and the Ngadju Native Title Aboriginal Corporation that serves to both enable exploration and protect
important cultural sites on Country.
Corporate Directory
Managing Director
Mr Brett Hazelden
Non-Executive Chairman
Dr Darren Holden
Non-Executive Director
Mr Piers Lewis
Non-Executive Director
Dr Mitch Loan
Financial Controller/ Joint Company Secretary
Mr Troy Cavanagh
Joint Company Secretary
Mr Joel Ives
Exploration Manager
Tim Jones
Contact
OD6 Metals Ltd
ACN 654 839 602
www.od6metals.com.au
Mail to: info@od6metals.com.au
Phone: +61 8 6189 8515
Level 1, 50 Kings Park Road, West Perth, WA 6005
PO Box 277, North Beach, WA 6920
PO Box 2009, Esperance, WA 6450
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