Raisebook

Serbian Lithium Projects - 10km from One of the Largest Lithium Deposits in the World
Jadar Lithium
Jadar Lithium
ASX:SXI

South East Asia Resources Ltd (subject to Deed of Company Arrangement) is to be renamed Jadar Lithium Limited.

The company has issued a re-compliance prospectus for the purposes of satisfying Chapters 1 and 2 of the ASX Listing Rules and to satisfy the ASX requirements for re-listing following a change to the nature and scale of the Company’s activities.

The company is currently offering up to 250 million shares at an issue price of $0.02 each to raise up to a total of $5 million before costs (public offer).

Raise Amount
$5,000,000
Offer Price
$0.0200
Closes
Dec 7, 2017

The Company has entered into Acquisition Agreements under which the Company will acquire 100% of the issued capital of Centralist Pty Ltd and Centurion Metals D.O.O. (a subsidiary of Centralist).

Centurion holds Serbian lithium projects, being 5 exploration licenses, covering a total area of approximately 328 square kilometres.

Upon completion of the acquisitions, the Company’s main-focus will be on exploration for high grade lithium resources within these projects.

The Lithium Projects include the Cer Project, Bukulja Project, Rekovac Project, Krajkovac Project and the Vranje-South Project.

The Cer Project is approximately 10km north of the Rio Tinto Jadar Lithium-Borate Deposit - one of the largest lithium deposits in the world.

Each of the projects are strategically located throughout the country to be just a nine-hour drive from lithium manufacturers.

Raisebook is offering both sophisticated and retail investors the opportunity to bid for shares in this offer. The issuer of the securities is South East Asia Resources (ACN 009 144 503).

Raisebook is accepting maximum bids of $6,000 per entity.

The offers of the securities are made in, or accompanied by, a copy of the disclosure document.

The disclosure document for the offer can be obtained by clicking on the "Download Prospectus" button on this page.

The Securities offered pursuant to this Prospectus should be considered highly speculative. Mining exploration and development is a high risk undertaking, there are unique key risks to this investment that potential investors should be aware of.

The Offers under this prospectus are conditional upon a number of events occurring. We recommend potential investors read the prospectus in its entirety and seek professional advice before deciding whether to acquire the securities.

Anyone who wants to acquire the securities will need to complete an electronic application form which will be sent via email after downloading the prospectus.

Investment Highlights

  • 5 exploration licences in Serbia (emerging lithium producer)
  • Substantial exploration area ~329km²
  • Two of Centurion's exploration projects are strategically located, with the Cer Project being only 10km north and the Bukulja Project being located ~ 90km east-southeast of Rio Tinto's world class jadar lithium borate discovery of 125.3 million tonnes with a weighted average concentration of 1.8% Li2O and 16.2 million tonnes of B2O3 grading 13.1% - one of the largest lithium deposits in the world
  • Serbia is only current known source of Jadarite - a new & valuable lithium-borate bearing mineral (LiNaB3SiO7(OH))
  • Experienced local team in place & ready for deployment
  • Strategically placed for nearby European manufacturers using lithium
  • A number of new opportunities under review.

Transaction Summary

  • Jadar Lithium Limited is issuing 250 million shares at a price of $0.02 per share via a public offer to raise $5 million (minimum).
  • Funds will be used for proposed exploration programmes on Serbian Lithium projects, compliance with company ASX admission requirements, access to equity capital markets for future funding and enhancement of the public and financial profile of the company

Serbia - Fertile Lithium Bearing Landscape

Serbia is becoming widely known as an underexplored but very fertile Lithium/REE bearing landscape.

Serbia is the only current source of Jadarite, a new lithium-borate bearing mineral discovered in 2004 by Rio Sava (a wholly owned subsidiary of Rio Tinto).

To date, the lithium borate bearing material known as Jardarite can only be sourced from Serbia.

The country has suitable infrastructure with road, rail and river transport options available with all utilities immediately accessible.

Each of the projects are “greenfields” exploration project areas that cover regions that are prospective for lithium and other pegmatite hosted minerals.

Project Overview

The company will target two different styles of Lithium Mineralisation:

  • Granite complexes with associated pegmatite and greisen mineralisation. These fluids tend to concentrate elements such as lithium, tin, tungsten, molybdenum and fluorine, as well as occasionally precious metals such as gold, silver and copper.
  • Jadar Style sedimentary sequences containing extensive hydrothermal lithium-borate mineralised zones. The world class Rio Tinto Lithium Borates' Jadar deposit, located nearby, is hosted by this style of mineralisation.

Studies indicate that the Serbian tenements at Cer, Bukulja, Rekovac, Krajkovac and Vranje cover areas with potential for the discovery of similar resources in these under-explored tenements.

European markets, particularly in Germany, are a significant factor in terms of the economic potential if any viable deposits are discovered on the tenements.

A two-year staged exploration program has been proposed for Serbian lithium Projects. The program will be managed and operated by Serbian geologists under the supervision of an in-country manager post acquisition.

The first year will involve various procedures of mapping and sampling, after which a suitable quantity of drilling will be decided on, based on the success of the first-year exploration effort.

Key Offer Details¹

Offer Price per Share under the Public Offer $0.02 per Share
Shares to be offered under the Public Offer up to 250,000,000
Cash raised under the Public Offer (before expenses) up to $5,000,000
Ordinary Shares to be offered under the Consideration Offer 37,500,000
Options to be offered under the Placement Options Offer 65,250,000
Shares to be offered under the Advisor Offer 12,500,000
Options to be offered under Lead Manager Offer 5,000,000
Shares on issue prior to the Offers (approximate - subject to rounding)² 64,680,536
Total approximate number of Shares on issue following the Offers 389,530,536
Ownership by Centralist Vendors at ASX relisting 9.63%
Ownership by investors under Public Offer at relisting 64.18%

Note:

  1. The figures shown above assume the Consolidation has occurred and none of the Options are exercised into ordinary Shares. Please refer to Section 2.5 for further details relating to the proposed capital structure of the Company.
  2. On a post-Consolidation basis

Use of Funds

Allocation of funds Amount %
Funds raised from the Public Offer $5,000,000 100.0
Serbian Lithium Projects Exploration¹ $2,037,000 40.7
Serbian Corporate Administration $846,000 16.9
Australian Corporate Administration² $1,131,000 22.6
Working Capital³ $350,000 7.0
Estimated expenses of the Offers⁴ $636,000 12.7
Total funds allocated $5,000,000 100%
  1. For a further breakdown of proposed expenditure, see the geologist’s report at Section 7.
  2. All Australian corporate administration expenses and other operating overheads, including but not limited to salaries and fees payable to Directors, employees and consultants, will be satisfied from the funds allocated to "Australian Corporate Administration" detailed above.
  3. Assumes AUD:RSD of 1:81.9 (yr1) and 1:84 (yr2)
  4. Includes, experts and advisory fees, ASX and ASIC fees; share registry fees, printing and postage, lead manager fees (estimated 6%). For further detail see Section 11.6.

Indicative Timetable

Closing Date for the Offer 15 December 2017
Completion of the Acquisition 22 December 2017
Issue of Securities under the Offers 22 December 2017
Dispatch of Holding Statements 22 December 2017
Expected Date for shares to be reinstated to trading on the ASX 29 December 2017
This deal closed on December 07, 2017