Welcome To Minotaur Exploration<\/p>\n
Minotaur Exploration is undergoing a seismic shift in its ownership and business focus.<\/p>\n
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.<\/p>\n
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.<\/p>\n
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.<\/p>\n
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.<\/p>\n
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.<\/p>\n
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Minotaur Exploration<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" 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 Continue reading