Great Boulder Resources’ (ASX: GBR) base metals spin-off Cosmo Metals has received unconditional approval from the Australian Securities Exchange (ASX) to be admitted to the official list after successfully raising A$5.1m at IPO.
Cosmo’s ordinary shares will commence trading on Monday, January 31, 2022. The listing follows the November 2021 approval from GBR shareholders to demerge the Yamarna assets into a dedicated ASX-listed base metals vehicle, focused on progressing its principal asset comprising the company’s rights and interests in the Yamarna tenements.
Yamarna is a multi-commodity project with significant potential for magmatic Copper-Nickel-PGE mineralisation. The Project is located 130km northeast of Laverton in the Eastern Goldfields District of Western Australia.
Cosmo Metals Highlights:
- Dominant land position in a highly prospective belt – 460 sq. km landholding in the world class Yamarna mineral province with proven potential to host globally significant discoveries
- Developing a large scale Nickel-Copper-Cobalt system
- Historical drilling has intersected shallow copper-nickel-cobalt sulphide mineralisation at multiple prospects
- Drill ready targets – An extensive pipeline of untested extensional and regional targets at the Mt Venn and Eastern Mafic prospects
- Well credentialled Board and management team – Successful track-record of discovering and financing significant mineral deposits. The team, led by well-credentialed Managing Director James Merrillees includes Ziggy Lubieniecki who is credited with the discovery of the +6Moz Gruyere gold deposit neighbouring the Yamarna Project
- Exposure to global decarbonisation and battery megatrends – Aiming to produce high value base metal concentrate products
- Multi-commodity potential – Under-explored regional gold targets with high potential for ‘Gruyere’ style gold, and significant PGE, chromite and vanadium potential yet to be explored
- Exploration works and drilling commenced in December 2021 to provide strong newsflow upon listing
- Attractive valuation & leverage to exploration success – A$5.0M EV at listing, limited free float and minimum entry price of A$0.20/sh (no pre-IPO capital raising undertaken.
“This is an exciting achievement for everyone involved in transitioning Yamarna into a standalone battery metals focused exploration company, Cosmo Metals,” Great Boulder’s Managing Director, Andrew Paterson, said.
“I look forward to continuing to contribute alongside a very talented board of experienced professionals and would like to personally wish James all the best as he endeavours to extract the full potential out of these high-quality assets.”
For further information please visit: https://www.greatboulder.com.au/
