Highlights
▪ Globe successfully progresses several tasks critical to the development of its Malawibased Kanyika Niobium Project (Project). ▪ Chief amongst these tasks was the signing in December 2024 of a non-binding Term Sheet for US$10 million with The Industrial Development Corporation of South Africa (IDC). ▪ IDC's involvement substantially de-risks, and adds credibility to, the Project. ▪ Globe expects to complete the updated feasibility study at Kanyika which will validate the Project's execution phase by March/April 2025. ▪ Globe receives a commitment on power supply for Phase 1 and Phase 2. ▪ Cash and working capital balances have been augmented by an additional short-term loan facility of up to US$1.2 million provided by Director Bo Tan in addition to the A$2.3 million facility. ▪ Cash at bank at the end of the December 2024 quarter was $0.28 million (30 September 2024: $0.72 million).
Read the full announcement here
About us:
Globe Metals and Mining is an African-focused resources company with its Kanyika Niobium Project in Malawi. The Kanyika Niobium Project will produce niobium and tantalum products, which are key additives in high strength-low alloy (HSLA) steels and electronics. A JORC Mineral Resource Estimate indicates Kanyika could support a 20 year mine life.
Globe's corporate head office in Perth, Australia is supported by regional operational offices in Lilongwe. The Company listed on the ASX in December 2005 (ASX: GBE).
