Connected Minerals Moves Closer to Bailundo Acquisition After Key Regulatory Milestones
Connected Minerals Limited (ASX: CML) has moved a step closer to completing its acquisition of Frontier Group CRM Pty Ltd after shareholders approved the transaction and the associated AU$4.5 million capital raising. The company also received approval from Angola’s National Mineral Resources Agency (ANRM) to expand the Bailundo Carbonatite Project’s mineral rights to include niobium, rare earth elements and phosphates. These developments have satisfied, or placed in a position to satisfy or waive, the remaining conditions required under the share sale agreement.
Completion of the transaction is expected shortly, after which Connected Minerals will own Frontier Group, securing an indirect 80% interest in the Bailundo project in Angola. Exploration activities have already begun at the project, with an operational update expected soon. The expanded mineral rights strengthen the project's potential as the company advances its strategy to establish a stronger presence in the critical minerals sector.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
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Connected Minerals Moves Closer to Bailundo Acquisition After Key Regulatory Milestones
Connected Minerals Limited (ASX: CML) has moved a step closer to completing its acquisition of Frontier Group CRM Pty Ltd after shareholders approved the transaction and the associated AU$4.5 million capital raising. The company also received approval from Angola’s National Mineral Resources Agency (ANRM) to expand the Bailundo Carbonatite Project’s mineral rights to include niobium, rare earth elements and phosphates. These developments have satisfied, or placed in a position to satisfy or waive, the remaining conditions required under the share sale agreement.
Completion of the transaction is expected shortly, after which Connected Minerals will own Frontier Group, securing an indirect 80% interest in the Bailundo project in Angola. Exploration activities have already begun at the project, with an operational update expected soon. The expanded mineral rights strengthen the project's potential as the company advances its strategy to establish a stronger presence in the critical minerals sector.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au