South Australian emerging industrial minerals company Andromeda Metals Limited has announced that it has completed the compulsory acquisition of the remaining ordinary shares of Minotaur Exploration Limited.
Following the completion of the acquisition, Andromeda now owns 100% of Minotaur Exploration and will consolidate the 100% ownership of Great White Kaolin Project and Natural Nanotech into one entity.
“The acquisition of Minotaur has enabled the consolidation of the Great White Kaolin Project and the Natural Nanotech Project optimizing value for both Andromeda and Minotaur shareholders,” said Andromeda’s Managing Director, James Marsh in an ASX Announcement.
“Great White is an exciting, low-cost project capable of supplying premium grade refined kaolin minerals into growing market demand for high value bright-white halloysite-kaolin in ceramic/paint sectors and other applications. Consolidating ownership of Great White provides for increased future funding flexibility and development optionality.”
Several high-value deposits comprising a naturally occurring combination of halloysite tubes and kaolinite plates can be found at the Great White Kaolin Project.
On the Eyre Peninsula in South Australia, the Great White Kaolin Project is located within the Streaky Bay District Council, near the settlement of Poochera.
