Offer Price

A$0.0090

per share

Offer Size

A$864,000

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Placement

Perpetual Resources Limited (ASX:PEC)

PEC

Lead Manager

Offer Price

A$0.0090

per share

Offer Size

A$864,000

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Placement

Key Offer Details

Issue Price (Per Share)

A$0.0090

Discount

30.77%

Offer Size

A$864,000

Shares Available

96,000,000

Offer Restriction

Offer to “sophisticated investors” (as defined in section 708(8) of the Corporations Act 2001 (Cth) (“Corporations Act”)) and “professional investors” (as defined in section 708(11) of the Corporations Act), with allocation amongst such investors to be at the discretion of the Company.

Offer Type

Placement Offer

Placement Price

$0.009

Placement Offer

Single-Tranche Private Placement Offer utilising the company’s existing capacity under Listing Rule 7.1 and Listing Rule 7.1A to raise up to $864k (96 million shares) at $0.009. The Board & Management also intend to subscribe for at least $60k in the Placement on the same terms as the Placement Offer subject to shareholder approval at the General Meeting.

Use of Funds

Exploration on the Company's Brazilian Projects.
Completion of the acquisition of Raptor REE Project.
General working capital purposes.

Isabella Project

Perpetual has recently acquired an advanced spodumene exploration project in the epicentre of Brazil's "Lithium Valley" in Minas Gerais, Brazil. The Isabella project features multiple outcropping spodumene occurrences and over 25 historical artisanal mining tunnels over a 1.8km pegmatite strike length - exposing LCT bearing pegmatites for suitable initial testing. Limited rock chip sampling undertaken by PEC has confirmed up to 5.62% Li20 from outcropping spodumene pegmatites, further underpinning the projects prospectivity in a highly renowned lithium region.

Raptor Project

The Raptor project covers 380 hectares (ha) in the world class Caldeira Rare Earth Complex. The project includes mineral rights for ionic clay rare earth elements (REE), Niobium, and Scandium.

Maiden drill results intercepted significant REE grades up to 8029 TREO with all holes starting at surface and end in mineralisation. The projects are near established infrastructure, water access and mining activities. PEC’s grades compare favourably to proximal and similar style ionic clay REE projects.

Ponte Nova - Salinas Prospect

The Ponte Nova - Salinas Prospect covers ~49km2 strategically located within the Salinas Municipality, in the mining friendly Brazilian state of Minas Gerais. The project is located in close proximity to Latin Resources which recently confirmed a new lithium spodumene corridor in Salinas. The “Ponte Nova - Salinas Prospect” could potentially be the extension of this corridor.

Geophysics have confirmed that the “Ponte Nova - Salinas Prospect” sits in the middle of an unexplored, very significant magnetic anomaly which is highly prospective for lithium (spodumene). Similar magnetic anomalies also correlate to the nearby Sigma Lithium and Lithium Ionic deposits, which both hosts proven spodumene occurrences.

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Other Prospects

Itinga prospect The Itinga prospect encompass historic artisanal mines exploiting large pegmatites in Minas Gerais, Brazil. Geologically, the area is primarily situated on the S-type Monzogranite, with preliminary mapping revealing extensive NE-striking pegmatites. An initial reconnaissance program revealed lithium mineralization, with peak rock-chip values from LIBS analysis up to 2.1% Li2O. Padre Paraiso The Padre Paraiso prospect is situated approximately 20km from world class lithium deposits at Grota do Cirlo (Sigma Lithium) and the Banderia Project (Lithium Ionic Cop). Initial rock chip testing has revealed promising peak lithium values up 1.04% Li2O

Documents & Downloads

Investor Presentation

Term Sheet

Board & Management

Julian Babarczy

Executive Chairman

Mr Babarczy is a finance industry professional, having worked at Regal Funds Management for the past 12 years, currently as a Portfolio Manager for the Regal Emerging Companies strategy. Mr Babarczy has extensive experience investing across all areas of the financial markets, with a particular focus on natural resource investments.

Robert Benussi

Managing Director

Mr Benussi is a senior resource executive with extensive experience in finance, corporate advisory and business development. Mr Benussi has held directorships and senior roles in listed resource companies, including Executive Director of Perpetual Resources from June 2018 to current, Chairman of Tawana Resources from Dec 2015 to Dec 2018, Founding shareholder and director of Bligh Resources from July 2011 to Oct 2015 - recently bought by SAR, and Company Secretary, CFO & CEO of listed Jupiter Mines from July 2006 to June 2011.

Brett Grosvenor

Non-Executive Director

Mr Grosvenor is an experienced Senior Manager with over 25 years’ experience in the Mining and Power industry. Holding a dual tertiary qualification in Engineering and a Master in Business, Mr Grosvenor is currently the Director of Development of Primero Group, focused on the development of projects from an initial concept through to contract delivery and operation.

Nicholas Katris

CFO & Company Secretary

Mr Katris joined Perpetual in December 2021, bringing over 15 years of experience in the resources sector with him. Together with his extensive experience in financial management with a number of ASX listed companies active in a range of commodities, precious metals, base metals and the industrial mining sector, Mr Katris has also held Directorships and Company Secretarial positions in listed and unlisted entities. He has worked with companies based in Australia, Canada, Europe and Africa.

Allan Stephens

Exploration Manager

Allan Stephens brings over 9 years of extensive experience in the mining and exploration sector as a seasoned geologist. His career spans pivotal roles at leading mining entities such as BHP Group Limited, AngloGold Ashanti, and Northern Star Resources.

In his recent tenure as the Western Australian Team Leader and Senior Consultant Geologist at MEC Mining, a leading geological consulting firm, Allan spearheaded exploration initiatives encompassing a diverse spectrum of commodities and deposit styles across Australia and West Africa.

Experienced in grassroots lithium exploration projects within the Pilbara and Yilgarn regions, Allan has crafted and executed numerous successful exploration strategies for domestic and international mining firms. His profound insights have been instrumental in advancing exploration efforts, contributing significantly to the industry's growth. Allan holds a Bachelor of Science degree with a major in Geology from the University of Western Australia. Additionally, he possesses a professional certificate in Environment, Sustainability, and Governance from AusIMM, underlining his commitment to industry best practices. Actively engaged in professional associations, Allan is a valued member of both AusIMM and the Australian Institute of Geoscientists (AIG).

Disclaimer

This site does not constitute an offer, recommendation, or invitation to any person, nor does it purport to provide all of the information an interested party may require in order to investigate the affairs of Perpetual Resources Limited. This site is provided for information only and has not been prepared with the intention that the recipient should rely on it. Liquidity Technology Pty Ltd ("Liquidity") does not make any representation in relation to the contents of this site or give any assurances as to the accuracy or the degree of care or diligence used in preparing this document. The information, data, and advice herein are provided to recipients on the clear understanding that neither Liquidity nor any of its representatives, directors, officers, employees, agents, or advisers makes any representation or warranty about its accuracy, reliability, completeness, or suitability for any particular purpose and does not accept liability (including, but not limited to, for any expenses, losses, damages, and/or costs (including, but not limited to, indirect or consequential damage)) nor take any responsibility of any kind whatsoever (including, but not limited to, whether in contract, tort, financial or otherwise) for the information, data, or advice contained in or for any omission or for any other information, statement, or representation provided to any recipient (including, but not limited to, as a result of information, data, or advice being inaccurate, unreliable, incomplete, or unsuitable in any way and for any reason whatsoever). Users of this site must conduct their own investigation and analysis regarding any information, statement, or representation contained or provided to any recipient or its associates by Liquidity or any of the Liquidity Personnel. Each recipient waives any right of action, which it has now or in the future against Liquidity or any of the Liquidity Personnel in respect of any errors or omissions on or from this site, however caused. All rights are reserved. If the whole or any part of a provision of this "Notice and Disclaimer" is invalid, illegal, or unenforceable, then such provision will be severed, and neither that part or provision nor its severance will affect the validity or enforceability of the remaining parts or provisions.

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