Minotaur Exploration

Welcome To Minotaur Exploration

Minotaur Exploration is undergoing a seismic shift in its ownership and business focus.

The CompanysDemerger General Meeting on 20 January 2022 may have been its last as an ASX listed entity. Acceptances for Andromeda Metals Offer to acquire 90% of Minotaurs sharesare flowing in.Your directors unanimously recommend shareholders accept the Offer.

Andromedas Offer is to exchange each Minotaur share for 1.15 Andromeda shares so that Andromeda can acquire control of Minotaurs 25% share of the Great White Kaolin Joint Venture and Minotaurs 50% share of technology joint venture Natural Nanotech.

Minotaurs eligible shareholders at the Record Date of 27 January 2022 have been allotted a bonus share issue in spin-out company Demetallica, equal to 1 share for every 19.37 Minotaur shares held. This allotment applied equally to Minotaur shareholders whoaccepted the Offer prior to the Record Date.

Rationalisation of kaolin based assets under one entity is logical and likely to lead to a more expeditious and streamlined development project. Andromeda has advanced the Great White kaolin-halloysite project substantially over the past year, bringing it close to the time when certainty of project financing becomes critical to allow a decision to mine to be made. Andromedas balance sheet and large shareholder cohort places it well to seek debt and equity funding for the projects approaching capital expenditure demands.

Andromedas Offer has been extended to CLOSE on 25 February 2022 and, on 100% acquisition, Minotaur shareholders will (assuming no further equity issues by Andromeda) hold 19.4% of Andromedas enlarged capital structure.

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Minotaur Exploration