The Directors of Enegex are pleased to offer you the opportunity to participate in our Share Purchase Plan (SPP).
The SPP seeks to raise up to $2m to help drive exploration programs at Enegex's West Yilgarn Ni-Cu-PGE projects. Enegex is one of the largest tenement holders in the West Yilgarn province which is increasingly recognised as an endowed Ni-Cu-PGE terrain following the discovery by Chalice Mining of the nearby Tier 1 Gonneville Ni-Cu-PGE Resource at Julimar and presents opportunity for multiple regional discoveries. Enegex is well placed to capitalise on the growing demand for battery metals.
Each Eligible Shareholder has the opportunity to support Enegex’s exploration strategy and apply for up to $30,000 of new Shares in Enegex at $0.08 per share and also receive a free unlisted option, exercisable at $0.14 on or before 30 June 2024, on the basis of one option granted for every share issued.
The company has chosen to undertake a SPP in order to ensure our existing shareholders have ample opportunity to support the company through the next round of target delineation and drilling.
Enegex’s near-term objective is to define drill targets at its flagship Miamoon and Miling Projects. At Miamoon, a gravity survey has recently been flown with inversion modelling and interpretation due in January 2022, which will be used to define targets for follow-up. At Miling, geochemistry augur sampling is planned to define Ni-Cu-PGE targets.
A SPP allows companies to issue up to $30,000 of new shares to eligible shareholders without the need for a prospectus.
Recognised Ni-Cu-Co-PGE potential with Julimar-type discovery potential
Exploration company targeting a growth pipeline of discovery across large tenement holdings in provinces with established prospectivity
Flagship West Yilgarn projects Miling & Miamoon have encouraging features comparable to Chalice Mining's Julimar host rock sequences
Work programs are underway to assess prospectivity and define targets for evaluation, with staggered field seasons between projects to optimise exploration efficiency
Increasing demand for Ni-Cu-Co-PGE resources underpins global electrification and decarbonisation