Azure Minerals says Andover one of best lithium exploration plays globally
August 22, 2023 at 03:01 pm
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Azure Minerals Ltd (ASX:AZS, OTC:AZRMF) MD Tony Rovira speaks with Proactive after announcing the company has received firm commitments to raise $120 million as it looks to accelerate exploration and resource drilling at the high-grade Andover Lithium Project in Western Australia’s West Pilbara region. In addition to the placement, Azure is seeking to raise $10 million in a share placement plan to existing shareholders, who can apply for up to $30,000 worth of new ordinary shares $2.40 per share — the same price as the new shares to be issued under the placement. Rovira says the company is in a strong position to accelerate exploration and resource drilling at the globally significant Andover discovery, as it moves toward a maiden lithium mineral resource targeted in Q1 2024.
Rovira said: “The strong support shown from both new and existing institutional investors in this placement is testament to Andover as one of the best lithium exploration projects globally.
"We look forward to further delineating the potential scale of this exciting discovery.
"On behalf of the Azure Board and management, I wish a warm welcome to our new shareholders and thank all our existing shareholders for their long-standing support.”
Contact Details
Proactive Investors
Jonathan Jackson
+61 413 713 744
jonathan@proactiveinvestors.com
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Copyright (c) 2023 TheNewswire - All rights reserved., source Press Releases
Azure Minerals Limited is engaged in the exploration and development of lithium and nickel assets. The Company is focused is on building lithium resources through a multi-rig drilling campaign. Its projects include Andover Nickel-Copper Project, Turner River Gold Project, Coongan Gold Project, and Barton Gold & Base Metals Project. Andover Nickel-Copper Project located in the West Pilbara region of Western Australia. The Project is located immediately south of the town of Roebourne and 35 kilometers (km) southeast of Karratha. The Barton Gold & Base Metals Project lies adjacent to the gold mining town of Kookynie, approximately 40 km south of Leonora in the Eastern Goldfields region of Western Australia. Turner River comprises two unexplored exploration license applications covering over 450 square kilometers (km2) located just south of Port Hedland. The Coogan Project is located in the eastern Pilbara about eight km to the west of Nullagine and covers an area of 223km2.